In my thirty years of forming credit union collaborations, I have come to see common lessons, especially in multiply owned CUSOs providing one or more back office operational services. I examine twelve of those lessons in these types of CUSOs. (more…)
Events
2020 NACUSO Network Conference
Save the date of April 20-23 for NACUSO’s 2020 NACUSO Network Conference to be held at the Disney Yacht & Beach Club in Lake Buena Vista, Florida. Details will be available soon on our conference website at https://www.nacusonetwork.com to book hotel and for more information.
2019 Next Big Idea Winner & CUSO of the Year Winners
The 7th annual Next Big Idea winner is Zogo Finance. Bolun Li, Founder of Zogo began his presentation by asking the attendees to raise their hand if they had teenagers, now or in the past. And then he did an amazing job explaining to a room full of parents how his product can both educate and motivate teenagers. A daunting task to be sure. Zogo received 55% of the audience’s votes to claim the victory. Click here for photos and to watch his post-victory interview with Mike Lawson, CUbroadcast.
Click here to see photos and read about who the winners of this year’s CUSO of the Year and New CUSO of the Year Awards were.
CUSOs in the News
PSCU Invests to Advance its Employees’ Credit Union Acumen
Collaboration with National Credit Union Foundation Reinforces the Credit Union Difference
PSCU, the nation’s premier payments credit union service organization, today announced that nearly 50% of its employees have completed training on the significance of the credit union movement, its history and the “people helping people” philosophy. The training curriculum, called “The Credit Union Difference: CU Principles & Philosophies,” was developed in partnership with the National Credit Union Foundation to elevate PSCU employees’ understanding of its Owner credit unions, their members and the overall credit union industry. As of this month, more than 1,000 of the CUSO’s 2,200 employees have completed the training course, with plans set for additional sessions.
“The trust that our Owner credit unions place in PSCU to provide their members with innovative solutions and solve problems is not something we take lightly,” said Chuck Fagan, President and CEO of PSCU. “As a cooperative organization built by and for credit unions, we know it is essential that our employees understand the credit union movement and align with its purpose in order to achieve success. I am proud that such a significant percentage of our team members have invested their time and energy into this program, and we look forward to increasing those numbers as we continue to grow.”
“The Credit Union Difference: CU Principles & Philosophies” program educates PSCU employees about credit unions, their history and what makes them unique from other financial institutions. It also highlights the cooperative principles and explores the challenges impacting members’ financial success today.
“Understanding the credit union difference opens up the awareness that we, as CUSOs and credit unions, are part of something incredibly meaningful,” said Cathie Tierney, Chair of PSCU’s Board of Directors and President and CEO of Community First Credit Union. “PSCU’s employees are better positioned to serve their Owner credit unions when they understand this unique philosophy. At Community First Credit Union, we value PSCU as a trusted partner and, together, we bring a commitment and passion to our Community First members.”
About PSCU
PSCU, the nation’s premier payments CUSO, supports the success of over 900 Owner credit unions representing more than 2 billion transactions annually. Committed to service excellence and focused on innovation, PSCU’s payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided 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. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit pscu.com.
PSCU Expands Partnership with Velocity Credit Union
Austin-based credit union joins cooperative for debit and credit processing, along with continued contact center support
PSCU, the nation’s premier payments credit union service organization, has announced it will begin providing debit and credit processing support to Velocity Credit Union (Austin, Texas) in 2020. Fittingly, the credit union made the decision to expand its relationship with PSCU during the CUSO’s annual Member Forum conference in Austin last month.
Velocity began its partnership with PSCU when it signed on for contact center support services as part of its online banking conversion in 2016, which grew to full-service contact center support in the fall of 2018. When it came time to identify a new card processing partner, Velocity conducted an extensive review process that included all of the major vendors that serve the credit union industry.
“Plastic card services are critically important to our overall strategy for serving our members around the clock no matter where they live, work or travel,” said Debbie Mitchell, President and CEO at Velocity. “We prioritized reliability and consistency of delivery above all other factors, followed closely by measuring the vendor’s track record in responding to service issues and problems and support of our staff. We judged PSCU to be superior in all of these aspects.”
Velocity was originally chartered in 1947 to serve City of Austin employees. More than 70 years later, the credit union is one of the largest and strongest credit unions in the state of Texas. It has more than $840 million in assets and serves more than 87,000 members. Membership is now open to anyone that lives or works in the five-county Austin area (Travis, Hays, Williamson, Bastrop and Caldwell counties).
“We are especially proud to continue to grow and expand our relationship with Velocity Credit Union,” said Scott Wagner, EVP and Chief Revenue Officer at PSCU. “From continuing to provide the responsiveness and support the credit union has come to expect from our contact centers, to helping guide its overall card programs to higher levels of success, we look forward to working with Velocity for many years to come.”
About PSCU
PSCU, the nation’s premier payments CUSO, supports the success of over 900 Owner credit unions representing more than 2 billion transactions annually. Committed to service excellence and focused on innovation, PSCU’s payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided 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. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit pscu.com.
