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PSCU joins CULedger’s industrywide distributed ledger technology initiative

ST. PETERSBURG, FL (April 24, 2018)PSCU – the nation’s leading CUSO – has announced its investment in CULedger, a credit union industry initiative for developing applications of distributed ledger technology. This technology, which offers a protocol that allows innovation around financial transactions, may become the system on which the future of financial processes is built.

“Credit unions must continuously research new methods to improve efficiency and security in order to remain competitive,” said Chuck Fagan, PSCU President and CEO. “CULedger will benefit credit unions and their members by reducing risks associated with cybersecurity and fraud, improving the member experience, and reducing costs. We look forward to working with CULedger to bring this platform to market.”

“Our support of CULedger aligns with the market’s interest to determine how this powerful technology will be used by credit unions across several authentication and ledger use cases,” added Brian Caldarelli, EVP and CFO at PSCU.

CULedger began in 2016 as a “research to action” initiative for developing a concept for a credit union system-wide, permissioned distributed ledger platform. In working with a national consortium of credit unions and trusted industry providers, CULedger is uniquely positioned to help credit unions serve the digital needs of their members.

For more information, visit CULedger.com.


About PSCU

PSCU is the nation’s premier payments CUSO. Committed to service excellence and focused on innovation, PSCU offers a comprehensive, highly integrated suite of traditional and digital payments solutions for credit unions to optimize their member experience. Leveraging digital technology, PSCU supports the success of nearly 900 Owner credit unions representing over 20 million accounts through secure, best-in-class solutions including payment processing, risk management, analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms. Comprehensive, 24/7/365 member support is delivered by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. For more information, visit pscu.com.

About CULedger

CULedger is a credit union-owned CUSO that focuses on delivering innovative applications on a global distributed ledger platform for credit unions. In working through a national consortium of 13 credit unions and trusted industry investors, CULedger has some exciting new developments around a global self-sovereign digital identity that will be market leading and further enhance the trust credit unions have with their members. CULedger will benefit credit unions and their members by reducing risks associated with cybersecurity and fraud, improving member experience and cutting costs.  For more information, visit CULedger.com.

Contacts

Leah Knepper, VP
Phone : 919.277.1176
Cell : 919.397.5355
lknepper@fwv-us.com

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