St. Petersburg, Fla. — (Aug. 29, 2018) — PSCU – the nation’s premier payments CUSO – has set a new company benchmark, announcing it has converted a record number of credit and debit accounts on behalf of multiple new Owner credit unions in just four months. The addition of these 1 million accounts, or a five percent increase in accounts serviced by PSCU, will further increase the strength of the cooperative.
“This milestone is significant for us, due to the impact it will have on the cooperative as a whole,” said Dan Rosen, SVP Operations Services for PSCU. “The addition of these accounts gives us the ability to further invest in products and solutions for our Owners. It means more transactional data that can be used for fraud management and analytics for marketing, which can translate into an increase in patronage dividends.”
PSCU tracks credit union satisfaction following the conversion process. The company was able to successfully handle such a large increase in conversion volume over a short period thanks to internal teams being tightly aligned with the unique needs of each credit union, along with adherence to rigorous project management guidelines and precise onboarding processes.
“Our knowledgeable staff prides itself on acting as an extension of the teams at our Owner credit unions, delivering an unparalleled member experience. This was evident during the influx of recent conversions,” added Rosen.
Credit Union Service Organizations (CUSOs) like PSCU are an integral part of the credit union system, helping credit unions gain access to cost-prohibitive functionality, saving substantial operation costs, obtaining higher levels of expertise and adding alternative streams of income.
As a CUSO, PSCU was founded, built and governed by credit unions to deliver its Owners incremental benefits through scale in buying power, partnerships with industry leaders, and direct access to the services that credit unions need to compete with big banks. In addition, since becoming a cooperative in 1994, PSCU has issued over $490 million in patronage dividends to its Owner credit unions, another benefit of ownership.
PSCU is anticipating additional conversion volume in the coming months as new Owners are onboarded.
PSCU is the nation’s premier payments CUSO. Committed to service excellence and focused on innovation, PSCU offers a comprehensive, highly integrated suite of traditional and digital payments solutions for credit unions to optimize their member experience. Leveraging digital technology, PSCU supports the success of nearly 900 Owner credit unions representing over 22 million accounts through secure, best-in-class solutions including payment processing, risk management, analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms. Comprehensive, 24/7/365 member support is delivered 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. For more information, visit pscu.com.