The CUOL organization was co-owned by CEO Connie Boretti and two credit unions: RTN Federal Credit Union and Medical Area Federal Credit Union.
Since 1980, CUOL has been providing data processing solutions for credit unions.
Most recently, it has focused on offering a hosted, ASP version of the latest release of the XP2 account processing solution. It is the first data center to leverage XP2 in a service bureau environment and has developed new techniques to maximize the efficiency of delivering the advanced account processing solution in this model.
This CUOL acquisition is expected to enable the Fiserv to offer clients with a choice of either in-house or outsourced delivery of XP2.
It also provides credit unions that are already receiving outsourced delivery through CUOL with direct support and access to new developments, Fiserv said.
Fiserv segment executive for credit union solutions Naseer Nasim said that as part of Fiserv, the company will continue the high level of service excellence while increasing the choices for clients to add value through the additional solutions it offers to XP2 clients.
CUOL president and CEO Connie Boretti said that the transition to Fiserv will be seamless for the clients.
The financial terms of the transaction were not disclosed.
