PSCU has been named the payments provider for the Cooperative Credit Union Association (CCUA), the CUSO announced today. Under terms of the agreement, PSCU establishes long-term servicing relationships with 44 credit unions, representing 47,000 credit and debit accounts.
CCUA conducted a lengthy and comprehensive due diligence process of its credit unions’ current and future card processing needs. In particular, CCUA sought to provide its credit unions benefits and product enhancements that improve cardholder service and maximize the value from their card programs.
"The payments arena is so important for credit unions and it is constantly evolving. We've done considerable due diligence on payment processing partners and are confident that PSCU, which is owned and governed by credit unions, gives our credit unions the best opportunity to serve their members with cutting edge payments solutions," said CCUA President Paul Gentile.
Gentile said one of the core reasons for selecting PSCU is its industry-leading fraud prevention systems. PSCU significantly exceeds industry benchmarks on both fraud loss-to-sales ratios and their ability to recover a significant amount of gross fraud via charge backs and merchant credits, saving credit unions millions in exposure.
PSCU also brings scale to the market. It is one of First Data's largest clients and one of Visa's ten largest customers, serving more than 20.2 million credit and debit cardholders. As the nation’s leading CUSO, PSCU partners with credit unions to enable growth and provide an unparalleled member experience. It will leverage its scale to bring best-in-class technology, resources and solutions for the CCUA credit unions.
“PSCU is looking forward to collaborating with CCUA to deliver a robust suite of payments solutions – backed by 24/7/365 cardholder servicing – that will help the CCUA credit unions achieve their strategic objectives for growth and member service,” said Chuck Fagan, PSCU President and CEO.”