PSCU expands collections functionality and solution delivery with acquisition of CU Recovery and The Loan Service Center
ST. PETERSBURG, FL (February 27, 2018) — PSCU – the nation’s leading CUSO – has announced it has acquired CU Recovery and The Loan Service Center in a move to expand the CUSO’s ability to service Owners with a comprehensive collections offering. CU Recovery and The Loan Service Center have been in business for nearly three decades and have a history of providing excellent service to their clients.
CU Recovery handles post charge-off accounts and is a full-service collection agency, while The Loan Service Center is a first-party collection company. Both of these businesses will become wholly-owned subsidiaries of PSCU. The acquisition will enable PSCU to add limited core integration that already exists within The Loan Service Center, as well as post charge-off collections to the company’s current offerings.
“PSCU is excited about the opportunity to expand its collections offering into our existing suite of payments solutions,” said Jack Lynch, Chief Risk Officer at PSCU. “The acquisition of CU Recovery and The Loan Service Center enhances our current account recovery and collections services, enabling us to provide a more robust offering and ultimately a more integrated member experience.”
“PSCU’s commitment to member service and the credit union industry were key elements in our decision to become a part of the cooperative,” said Chris Becker, Chief Operating Officer at CU Recovery and The Loan Service Center. “We are excited about the opportunity to leverage the power of PSCU to enhance our services for our current and future clients.”
About PSCU
PSCU/Co-op Solutions is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America. PSCU/Co-op Solutions leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit pscu.com and coop.org.
