Fiserv Inc. announced in a news release that Merced, Calif.-based Merced School Employees Federal Credit Union, with $371 million in assets, is now providing its members with access to Fiserv's Mobile Money financial services. Mobile Money enables users to transfer funds between accounts, check balances, pay bills and receive alerts, such as payment notifications and account balance-transfer alerts, on any mobile device.
MSEFCU members can access Mobile Money by using SMS/text messaging or through a mobile browser. A downloadable application for the iPhone is planned, Fiserv says.
MSEFCU serves a member base that includes school employees and high school students in California's Merced and Mariposa counties, as well as employees and students at the University of California and Merced College. The credit union launched mobile banking to appeal to students, yet initial feedback indicates that the service is being adopted by a broad range of members.
"In many cases, credit unions have pockets of high demand for mobile financial services within their member base, and that is certainly true for MSEFCU," said Dave Selina, segment executive for Credit Union Solutions at Fiserv. "Their member base includes students and employees of a research university, as well as local high school students, groups that tend to have a keen interest in using new technologies. That makes mobile financial services a good fit for the credit union."
MSEFCU went live with Mobile Money in November 2009. MSEFCU also uses Fiserv's Virtual Branch Internet banking and bill payservices, ATM processing, ATM and debit card production services and a host of other Fiserv solutions.
