Portland, Ore. – With just one branch in Seattle that’s open one day per week, Nordstrom Federal Credit Union, a $63 million, single-sponsor credit union that serves employees and family members of the Nordstrom department store chain, has long relied on remote services to reach its nationwide membership. However, according to President and CEO Shelli Millhuff, to better serve the credit union’s membership, a technology refresh was in order.
According to Millhuff, a change in card processors uncovered a need for a new digital banking provider. “We realized that to be able to take full advantage of the features that our new card processor offers, we had to update our online banking platform,” said Millhuff. She added that Tyfone was the clear standout in the credit union’s search for a new digital banking vendor.
“Tyfone has the most modern look and feel of any vendor evaluated,” said Millhuff. “They already have integrations to most of the vendors we use, and their APIs will allow us to connect new add-ons going forward.”
With about 5,000 members, Nordstrom FCU serves less than 10% of its sponsor’s 62,000 employees. Millhuff said she expects a more modern digital member experience will make it much easier to attract new members.
“Nordstrom FCU was a virtual credit union long before virtual credit unions were a thing,” said Dr. Siva Narendra, Tyfone’s CEO, noting that the credit union was founded in 1936. “We are very pleased that we can help them on their continuing journey toward better member service and continued growth.”