St. Petersburg, Fla. — (May 26, 2021) — PSCU, the nation’s premier payments credit union service organization (CUSO), has appointed a new executive committee for its board of directors for the 2021 fiscal year.
The following continuing board members are now serving in executive roles:
“PSCU’s board of directors is made up of CEOs from credit unions of all asset sizes and varying fields of membership from diverse geographic locations throughout the country, and these different perspectives contribute greatly to the overall strength of the cooperative,” said Rathjen. “We are extremely grateful to Cathie for her leadership and support during her outstanding tenure as Chair. I look forward to the opportunity to continue building upon PSCU’s success to help our Owner credit unions achieve their objectives and grow.”
Additional continuing board members and associate directors include:
During Tierney’s two-year term as chair of PSCU’s board of directors, the cooperative achieved unprecented growth – including revenue growth of 33.7% from 2018 through 2020 – while providing record patronage dividends and launching innovative solutions for its Owner credit unions. Growth drivers have included the launch of Lumin Digital, PSCU’s cloud-native digital banking platform that continues to be succesfully adopted by financial institutions as they transform their digital experiences, and PSCU’s successful long-term partnership with Jack Henry & Associates® (JHA), which represents more than 20 million accounts, expands the CUSO’s addressable market and adds scale.
These achievements helped enable PSCU to issue a record patronage dividend for the 2020 fiscal year of $37.4 million, with 30% being distributed in cash – the largest cash payout in the history of the cooperative – while driving continued investments to fuel future investments that support Owner credit unions and their members. In addition to the $100 million three-year investment announced at the start of the 2019 fiscal year, the PSCU board recently approved an additional $10 million investment to further accelerate the company’s data strategy. The financial health of the PSCU cooperative enables the CUSO to remain firmly committed to providing industry-leading levels in both its dividend program and its ongoing investments in innovation and product development.
About PSCU
PSCU, the nation’s premier payments CUSO, supports the success of 1,500 credit unions representing more than 5.4 billion transactions annually. Committed to service excellence and focused on innovation, PSCU’s payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit PSCU.com.
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