St. Petersburg, Florida – (May 9, 2013) – PSCU announced that since the beginning of 2012, 11 credit unions have partnered with the credit union service organization to become Member-Owners and re-enter the credit card market following the expiration of their agent processing agreements. The credit unions continued a trend that includes more than 30 credit unions that have selected PSCU in recent years to restart their programs. The credit unions collectively represent over 100,000 credit card accounts and $200 million in outstanding balances.
“The credit card portfolio represents a significant revenue engine and relationship builder for credit unions,” said Michael J. Kelly, PSCU President & CEO. “We’re seeing more credit unions engage with members and grow their credit card business with innovations like EMV, mobile and digital wallets and creative rewards and affinity programs. The opportunity for credit unions to grow and prosper is tremendous. Our team is committed to helping credit unions develop the game-changing card programs they need to grow profitability, build loyalty and sustain relevance.”
The reasons most frequently cited by the credit unions for partnering with PSCU include responsiveness during the due diligence process, experience and depth of their account service and implementation support teams, and the company’s commitment to new technology and ongoing payments innovation.
PSCU combines an industry-leading payment card platform with strategic consulting expertise across multiple credit union products and business operations to build a customized plan for credit union growth and relevance. PSCU’s Advisors Plus consultants collaborate closely with credit union staff to design and execute strategies that empower credit unions to ignite portfolio performance and more effectively engage with members. Member loyalty is strengthened further by PSCU’s 24/7/365 Total Member CareTM contact center professionals who address cardholders’ inquiries and questions around the clock.
Established in 1977, PSCU (St. Petersburg, Fla.) is the nation’s leading credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. As a non-profit cooperative, the company is owned by more than 680 member credit unions representing 16 million credit, debit, prepaid, online bill payment, mobile and electronic banking accounts. Comprehensive 24/7/365 member support is delivered through four Contact Centers located throughout the United States that handle more than 18 million inquiries a year.
PSCU’s MōPRO initiative blends emerging technologies with proven strategies and empowers the CUSO to lead the industry in developing innovative payments solutions. This new culture of engagement, agility and energy can enhance both revenue and market share for Member-Owner credit unions. For more information, visit the PSCU website at www.pscu.com.