Press
Credit union cites collaborative relationship and growth as key factors in renewal decision
ST. PETERSBURG, FL (May 12, 2014) — BCU (Vernon Hills, IL; $2.0 billion) signed a long-term renewal agreement with PSCU for the company’s combined credit and debit processing solutions, online bill pay and Total Member CareTM services, the CUSO announced today. BCU, a PSCU Member-Owner since 1999, based their decision on the value of their long-term partnership with PSCU, which centers on solid partnerships with payments industry leaders and the company’s commitment to investment in technology and innovation.
“We are honored to serve BCU and its members well into the future,” said Sean Diamond, PSCU EVP of Relationship Development. “The spirit of our partnership challenges us to always raise the bar for performance to help deliver the highest levels of growth and service for BCU. The level of collaboration between our organizations is inspiring.”
BCU and PSCU engage in annual strategic planning sessions and an ongoing dialogue to ensure the credit union optimizes PSCU’s products and services. “As one of our key business partners, the relationship with PSCU gives us access to industry-leading payment platforms, the insights of payments industry experts and the benefits of the collective scale of all the Member Owners,” said Bob McKay, EVP/COO for BCU.
Tom Moore, BCU EVP/CFO added, “The new agreements reflect the trust we have in the PSCU team, and the confidence that our membership will continue to experience the product and service benefits for years to come.”
BCU has experienced significant growth annually in membership, accounts and transactions, continually ranking at the top of its peer group in key business performance indicators. The credit union uses over 30 payments solutions and services from PSCU. Outstanding credit card balances are 9.6% of BCU’s total assets, nearly double the average for other credit unions in their peer class. The credit union saw annual growth in their large credit and debit card portfolios of 7.1% and 16.6%, respectively, from 2012 to 2013.
BCU also renewed their contract for PSCU Total Member Care services, which the credit union leverages to deliver customized contact center support to its 184,000 members on an after-hours and overflow basis. PSCU’s contact centers use a direct connection to BCU’s core system to deliver account information and perform transactions.
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 16.5 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.