Corporate One Federal Credit Union (Columbus, OH; $4.2B assets) has signed a five-year renewal agreement with PSCU for credit and debit processing services, PSCU announced today. The CUSO provides payment processing and support services to 70 Corporate One credit unions representing approximately 130,000 members.
“We’re delighted to take our relationship with Corporate One FCU to the next level,” said Sam Snyder, VP of Business Development for PSCU. “This renewal ensures that Corporate One credit unions will continue to grow and prosper from our scale, technology, solution set and cooperative service model.”
Corporate One has partnered with PSCU since 2009 to offer its credit unions a full range of credit, and signature and PIN debit card processing services. “Participants of Corporate One’s Cards program are ideally positioned for growth,” said Tammy Cantrell, Corporate One’s EVP in charge of Payment Services. “In fact, since the program’s launch, our members utilizing the debit card program showed an overall increase in cardholder growth of 12 percent and a 45 percent increase in combined signature and PIN transactions. PSCU’s strategic vision, commitment to innovation and depth of resources allows us to give credit unions with lower to moderate transaction volumes a strong and stable foundation for continued success and relevance in the area of electronic payments. Our partnership with PSCU allows us to offer PSCU‘s premier services to smaller and mid-size credit unions, helping them to compete with larger, more sophisticated financial services organizations.”
Working with PSCU, Corporate One’s members receive industry-leading fraud protection services. PSCU’s fraud loss rate is currently 33% under the industry average. Additionally, PSCU’s false positive ratio continues to lead the payments industry at a rate of 6 to 1 while the industry average is 20 to 1. PSCU combines its industry-leading payments platforms with strategic consulting expertise across multiple credit union business lines to build customized plans for growth and relevance. The company is also committed to helping credit unions engage with the Millennial consumer segment through its award-winning social media platform called Make Your Money Matter and a robust set of mobile and analytics solutions.
About PSCU: 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. The company is owned by nearly 700 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.
Through a focus on collaboration and initiatives to mine the collective intelligence from all corners of the cooperative, PSCU’s Member-Owners are positioned at the leading edge of innovation. The combination of PSCU’s commitment to leadership in mobility and excellence in risk management, strategic consulting and technology creates PSCU’s foundation for the strongest partnerships with its Member-Owners. For more information, visit the PSCU website at www.pscu.com.
About Corporate One Federal Credit Union: Corporate One Federal Credit Union is a leading wholesale financial services provider to 900 of America’s credit unions. With more than $5.7 billion in assets under management, Corporate One offers correspondent services including ATM/debit cards, credit cards, share draft imaging, and depository and electronic payment services to credit unions in the Midwest, as well as investment solutions to credit unions across the United States. Corporate One developed and manages Alliance One, one of the nation’s largest non-network-specific ATM selective-surcharging groups. For more information, visit www.corporateone.coop.
Jim Major, PSCU
Phone: (800) 443-7728 ext. 4189
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