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PSCU Financial Services’ Debit Transactions Up 22% in 2009 Due to Progressive Promotions Strategy

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

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

Annual debit transactions surged 22% in 2009 and are up 16% for the first quarter of 2010 for PSCU Financial Services’ credit unions due in large part to an aggressive promotional strategy. The organization’s strong growth puts it on track to reach 1 billion debit transactions by 2011. PSCU Financial Services will conduct seven direct mail usage campaigns in 2010 as well as periodic sweepstakes promotions. The organization funds many of the campaigns and also leverages its relationships with the card companies to ensure that most of the campaigns carry no cost to credit unions.

“Since debit interchange plays such a large role in credit union revenues, we have a specialized team that designs campaigns for our credit unions. We also negotiate with MasterCard and Visa to offer special sweepstakes promotions conducted specifically for our credit unions. The card companies provide very attractive prizes that drive increased participation, which ultimately leads to increased card usage and greater revenue for our credit unions,” said Tom Gandre, Group Executive, PSCU Financial Services.

So far this year, PSCU Financial Services has conducted two MasterCard debit campaigns with response rates of 14.5% and 6.6%. Credit unions have been impressed with both the response rates and overall increase in transaction volumes.

“We have been extremely pleased with the results of PSCU Financial Services’ debit promotions. We had more than 450 accounts go from completely inactive to an average of 24 transactions a month,” said John Stegner, Chief Financial Officer, Y-12 Federal Credit Union, of Oak Ridge, Tenn.

A Debit Advisory Group, made up of 20 member-owner credit unions of all sizes, provides input to the cooperative’s product development and marketing teams to ensure the DebitAdvantage™ platform addresses current and emerging needs of credit unions.

In addition to its exceptional marketing support, DebitAdvantage platform supports both signature and PIN for simplified processing and enhanced fraud protection. Cardholders gain 24/7 member support through the cooperative’s renowned Contact Center and AdvisorsPlus™ professionals are available to help credit union staffs analyze their card portfolios and conduct their own promotional campaigns. 

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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