January 15, 2011

CGI renews $25M in contracts with Canadian credit unions

TORONTO--CGI recently re-signed more than $25 million in contracts with a group of Canadian credit unions. By retaining the more than 36 members of the credit union industry, CGI will keep their contracts for about 5 more years.

" CGI has been a trusted partner since 1998, and we are pleased to enter into an early contract renewal and extension with CGI for our managed banking services. We rely on CGI's experience and industry vision to help strengthen and grow our businesses," said Janet Grantham, CEO, Sydenham Community Credit Union and Chair of the Credit Unions Services Association (CUSA) board representing 36 credit unions in Ontario.

With long standing relationships with credit unions in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Atlantic Canada, CGI has signed a total of 36 contract renewals for managed banking services, the majority of which extend through to 2016.

"On behalf of the six Okanagan I.T. Alliance Credit Unions, representing more than 130,000 members, we are pleased to have entered into a banking system contract extension with CGI through to December 31, 2016," said Michael Wagner, CEO, Salmon Arm Savings and Credit Union. "In our review of banking system options available in the market, our clear choice was CGI."

"We are very pleased to further extend our long term relationship with these organizations," said Paul Mackley, Vice-President, Services to Credit Unions, CGI. "We look forward to supporting their business plans and their members well into the future through our managed banking services and integrated solutions."

CGI provides application management and managed services that power the banking systems for more than 120 credit unions, schedule II banks and trusts from British Columbia to Newfoundland and Labrador. CGI's core banking offerings, RFST and HORIZONT, each with integrated CRM, loan origination and delinquency management solutions, provide clients with the required tools to compete effectively in today's financial services market.

Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 31,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices and centers of excellence in Canada, the United States, Europe and Asia Pacific. As at September 30, 2010, CGI's revenue was C$3.7 billion and its order backlog was C$13.3 billion.