Posts By: Denise Wymore

PSCU Year-over-Year Transaction Trends Update (36th Week)

PSCU, the nation’s premier payments credit union service organization, has updated its weekly transaction analysis from its Owner credit union members on a same-store basis to identify the impact of COVID-19 on consumer spending and shopping trends. An infographic is also attached.

To provide relevant updates on market performance, experts from PSCU’s Advisors Plus and Data & Analytics teams today released year-over-year weekly performance data trends. In this week’s installment, PSCU compares the 36th week of the year (the week ending September 6, 2020 compared to the week ending September 8, 2019).

  • Overall card payment volume growth rates increased in Week 36. A portion of the increases for Week 36 and declines in Week 35 are attributed to Labor Day occurring a week later this year (September 7, 2020) as compared to last year (September 2, 2019).
    • Debit card spend was up 23.6%, higher than the four-week average of +15.4%.
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IOWA CREDIT UNIONS HAVE EXPANDED ACCESS TO NATIONWIDE ATM NETWORK

CO-OP Financial Services Enables Iowa Credit Unions to Provide
Members Access to Thousands More Surcharge-Free ATMs via Partnership with SHAZAM

Iowa credit union members can access their money at even more surcharge-free ATMs thanks to a partnership between CO-OP Financial Services and SHAZAM. The alliance means credit unions in the state can provide members with access to a combined total of nearly 33,000 surcharge-free CO-OP ATMs and SHAZAM Privileged StatusTM ATMs across the nation.

Iowa credit unions that join the CO-OP ATM network do not have to leave their current ATM provider. The financial institutions can maintain their current relationship and terminal driving, augmenting it with CO-OP’s ATM network.

One credit union already benefiting from the partnership is Financial Plus Credit Union , based in Des Moines. “When Iowans leave the state for college, retirement or a job opportunity, we want to continue serving as their consistent, trusted financial partner,” said Dave Cale, CEO.… Read more

KALSEE partners with Xtend Data Analytics to reduce loan attrition through Losing the Love initiative

KALSEE Credit Union approached Xtend with a unique request during the middle of the COVID-19 pandemic: asking to help them improve their loan attrition rate. Xtend Data Analytics took up the challenge and put together a customized “Losing the Love” initiative to reach out to members with aging, recently paid off, and low balance auto loans.

Losing the Love is a program that typically focuses on improving member retention and engagement with ten topics that focus on self-service usage, sub-account closure rates, card usage, and more. Xtend uses data from the core processing platform to reach out to disengaged members through HTML emails and surveys, allowing credit unions to recapture the love of their members before they are gone.

Both Xtend Data Analytics and KALSEE Credit Union are excited to see the results of this customized strategy. “We came to Xtend knowing that we needed to be more proactive in utilizing our data to build and save relationships with our members,” said Carrie Boisonault of KALSEE.… Read more

CU*Answers Network Services seeing dividends from paid internship program

CU*Answers Network Services, a division of cooperative CUSO CU*Answers, continues its successful paid internship program. The experience benefits individuals looking to test the waters of a technology career and the CUSO’s Client Support and Operations team. Interns configure client workstations, core product update devices, and assist with daily processes, communication, and organization of the lab.

“From this program we have developed permanent employees, including several full-time support staff and even our current assistant manager,” said CSO Manager Sarah Sweet. “It’s a real benefit to have extra hands in the lab and a fresh perspective every so often as well.”

Matt Sawtell, VP of Managed Technology Services, added that the internship program was designed to provide real hands-on technical training for entry level participants. “As they reach the conclusion of the three- to six-month period, our interns will have added valuable experience to their resumes. And in the best-case scenario, we have developed relationships with talented young individuals who will look to take the next step in their careers by becoming permanent members of the team,” he said.… Read more

UMe CREDIT UNION FINDS FORWARD-THINKING TECHNOLOGY PARTNER IN CO-OP FINANCIAL SERVICES

Burbank, California-based Credit Union Chooses CO-OP for Debit and In-House Credit Processing 

As UMe Credit Union approached the end of its existing card processing agreement, the institution set as a goal, “aligning with a vendor who is forward-thinking in terms of technology, but also, who truly wants to be a partner in working with us,” said Robert Einstein, President/CEO. “We value relationships.”

The Burbank, California-based cooperative found just such a partner in CO-OP Financial Services, which is contracted to perform Debit and In-House Credit services for UMe Credit Union (www.umecreditunion.com).

“At UMe, we are always striving to improve in all areas of our business,” said Einstein. “CO-OP rose above the competition from the initial demo process. Their team demonstrated a keen enthusiasm for doing what they do and for the opportunity to work with us. As we reached out to current CO-OP credit union clients, we were pleased to hear that they experienced seamless transitions and were very happy in their processing relationship with CO-OP.… Read more