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Over a Dozen Credit Unions Go Live with PSCU Financial Services’ Overdraft Opt-In Service

Merry Pateuk
PSCU Financial Services, Inc.
800-932-7728
mpateuk@pscufs.com

Robette Brooks
CCS/PR, Inc.            
303-699-8861
rbrooks60@earthlink.net

More than 65 credit unions plan to leverage PSCU Financial Services’ CUInitiative™ for assistance with Regulation E-Overdraft Opt-In. The service launched in late March offers four flexible solutions that employ the cooperative’s Contact Center operations to quickly obtain member opt-in authorization needed to comply with Regulation E amendments by the deadlines of July 1, 2010, and August 15, 2010. This service is available to any credit union and is not limited to members of the cooperative.

“Our Call Center professionals help explain the new requirements to accountholders so that overdraft authorization can be obtained quickly and cost effectively,” said Tom Gandre, Group Executive, PSCU Financial Services. “Member-owners are taking advantage of the power offered by our Contact Centers to preserve non-interest income and to protect member relationships through clear communication about this new regulation. We are also making this service available to all credit unions to help our industry maintain strong revenue and build greater market share.”

Changes to Regulation E and consumer opt-in requirements could significantly impact non-interest income for credit unions. NSF/overdraft fees currently comprise 28% of credit unions’ non-interest income, according to a recent study conducted by Callahan & Associates.

 

CUInitiative allows credit unions to select one or more activities from a series of member contact options including: a customized digital message that gives members instructions for overdraft protection; a scripted outbound call from a Total Member Care™ professional that shows the credit union name on caller ID; and an IVR with an introductory message and toll free number that allows members to provide opt-in authorization. PSCU Financial Services can also provide credit unions with a toll-free number their members can call for answers to frequently asked questions about this new overdraft requirement.

 

All CUInitiative services are priced affordably and deliver an attractive return on investment by enabling compliance and protecting an important source of fee income. For more information, contact Susan Devanney at 248-977-4600 or SDevanney@pscufs.com.

 

About PSCU Financial Services

Based in St. Petersburg, Florida, PSCU Financial Services is the nation’s largest 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 640 member credit unions representing over 14 million accounts and 1 million online bill payment subscribers. Its Contact Centers handle more than 17.4 million inquiries a year.

 

PSCU Financial Services offers 24/7 member support through four Contact Centers: its Eastern operations center in St. Petersburg, Fla.; a Western operations center based in

Phoenix, Ariz.; and two call centers in Detroit, Mich. These Contact Centers perform member servicing and new member acquisition, cross-selling and automated lending solutions as well as support for debit/credit/prepaid cardholders and online bill payment subscribers.

Established in 1977, the company provides a broad array of cost-effective, high quality financial services that include credit, debit, ATM, prepaid, bill payment and contact center solutions. PSCU Financial Services uniquely offers its members a full range of processing options, any combination from full service to in-house pass through processing for credit, debit and ATM transactions. As a leader in the credit union

movement, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit PSCU Financial Services’ website at www.pscufs.com.


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