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
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.