PSCU, the nation’s premier payments credit union service organization (CUSO), today announced that it has completed the acquisition of the Primax business from T.K. Keith Company, Inc. Terms of the transaction were not disclosed.
Based in Wakefield, Mass., Primax has been designing and providing support services for payment card programs for credit unions and community banks throughout the U.S. and the Caribbean for nearly 40 years.
“We are excited to welcome Primax to the PSCU family,” said Chuck Fagan, president and CEO, PSCU. “PSCU and Primax share the same commitment to service excellence and a similar relationship-driven culture. PSCU has transformed its business model and evolved from a transactional processor and reseller of a platform partner’s products to an integrated, value-add financial technology solution provider, and we look forward to delivering the benefits of this scale to Primax clients.”
“PSCU’s substantial resources, end-to-end platform of solutions and services, and commitment to continued investments in innovation will help Primax clients realize their full potential,” said Ted Keith, Jr., president and CEO, Primax. “PSCU has already developed many of the advancements that Primax clients are seeking, including digital and mobile banking, security and fraud mitigation solutions, business intelligence and data analytics, and expert consulting services to help optimize operations and portfolios.
“Our team is excited to bring their expertise to PSCU, whose values are aligned with our own, and provide significant added value for our clients,” added Brad Singer, executive vice president of Primax.