Financial Services Veteran to Lead PSCUs Advisors Plus Consulting Team
Glynn Frechette to accelerate track record of helping credit unions grow
St. Petersburg, Fla. – (April 25, 2017) – PSCU has announced that Glynn Frechette has been named SVP of Advisors Plus, PSCU’s division of strategic consultants and marketing experts. Frechette will lead the team to further develop Advisors Plus’ consulting and marketing assets. PSCU Owners that utilize Advisors Plu outperform credit unions in multiple areas, when compared with those that do not.
During the 2016 holiday period, PSCU credit unions that opted for continuous consultative and campaign support from Advisors Plu netted an average incremental spend per account of 16 percent more than card programs not benefiting from Advisors Plu support. This indicates the value and importance of actively managing card programs, which can double the incremental growth effect of a high-spending period.
Last year, Advisors Plu engaged with over 250 Owners, conducting 1,100 individual credit union campaigns that targeted 4.9 million cardholders and generated the following results:
- Increased credit card outstandings by 10 percent more than the industry average growth rate
- Recorded an average 10.5 percent increase in sales volume – 30 percent greater than the industry average
- Experienced an 8 percent growth in accounts and a 12 percent growth in transactions, both double the rate of non-Advisors Plu users
- Generated over $700 million in balance transfers
- Facilitated 85,000 account activations
- Boosted credit line increases for 300,000 accounts
- Generated more than $105 million in sales
“With his deep experience in financial services, Glynn is the perfect leader to strengthen and expand the Advisors Plus suite of high-performing offerings. PSCU will continue to invest the necessary resources into Advisors Plus to ensure Glynn and his team of experts can help credit unions grow and increase operational efficiency,” said Chuck Fagan, PSCU President and CEO.
Frechette has spent 23 years in the financial services industry, specializing in credit union and community bank partnerships. Prior to joining PSCU in 2014, he served as Senior Vice President for National New Partner Sales and Acquisitions at First Data. His previous progressive First Data leadership roles included serving as General Manager for national clients and alliances in the western United States and Canada, and Vice President of Sales in the Emerging Clients division. Before joining First Data, Frechette spent over a decade at Automatic Data Processing as Vice President of Sales, chiefly responsible for driving increased revenue for the firm through financial institution partnerships.
Advisors Plu uses the latest marketing intelligence to help Member-Owners build their card programs. The team employs proven techniques like data mining, predictive modeling and segmentation analysis to send the right offers to the right members at the right time. It was established in 2004 with a mission of helping credit unions meet their financial and business challenges and grow.
For more information on Advisors Plus, visit advisorsplus.com.
Established in 1977, PSCU (St. Petersburg, Fla.) is the nation's leading credit union service organization (CUSO). The company was recognized as CUSO of the Year in 2016 by the National Association of Credit Union Service Organizations. PSCU’s products, financial services solutions and service model collectively support over 850 Owner credit unions representing more than 20 million credit, debit, prepaid, online bill payment and mobile accounts; protect over 2 billion transactions annually from fraud; and optimize credit union performance and growth. Comprehensive 24/7/365 member support is delivered through call centers located throughout the United States. For more information, visit www.pscu.com.