Posts By: Denise Wymore

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. Our 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 trends. In this week’s installment, PSCU compares the fifth week of the year (the week ending Jan. 31, 2021 compared to the week ending Feb. 2, 2020).

“While card payment volume softened for debit and credit in Week 5, overall purchases remain strong, with debit purchases experiencing one of the highest monthly growth rates in recent history,” said Glynn Frechette, SVP, Advisors Plus at PSCU. “Following the Super Bowl this past weekend, we take a deeper dive into the Entertainment sector, where we continue to see significant impact to purchases across all categories.”… Read more

CU Recovery & The Loan Service Center, a PSCU company, announced it has expanded its relationship with Advia Credit Union (Advia). In addition to third-party support services for recoveries on charged-off loans and shares, The Loan Service Center (TLSC), a first-party delinquency management solution for all loan types prior to charge-off, has begun providing early-stage payment reminders for the credit union.

Headquartered in Parchment, Mich., Advia was founded with a mission to provide financial advantages to its members. In looking for additional collection services, Advia Credit Union was seeking a partner that would build a solid relationship with its early-stage delinquent members, keeping them engaged and paying their loans. The credit union specifically wanted to see an impactful reduction in the number of members that default on their loans at the 30-day mark. As an organization that seamlessly integrates with the credit union collection team to provide quality calls and comprehensive collection notes, TLSC was the ideal fit.… Read more

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. Our 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 trends. In this week’s installment, PSCU compares the fourth week of the year (the week ending Jan. 24, 2021 compared to the week ending Jan. 26, 2020).

“Spending remained strong in Week 4, with debit growth across the Goods, Service and Grocery merchant categories remaining elevated from the recent federal stimulus payments,” said Glynn Frechette, SVP, Advisors Plus at PSCU. “In this week’s deeper dive, we look back at Contactless activity and the strong adoption of Card Present ‘tap-and-go’ transactions throughout the pandemic. Increased adoption of contactless has driven continued growth, with contactless debit outperforming credit.… Read more

Joint agreement allows credit unions to benefit from powerful insights and an easier commercial connection between data technology and vendor selections

Trellance, the leading provider of data analytics, business intelligence and professional services to community-based financial services organizations, today announced a professional services partnership with CU Engage, a national consultancy that delivers vendor and technology evaluations as well as project management services to credit unions.

As credit unions need trusted advisors to evaluate and negotiate with providers of financial solutions or services like digital banking and card processing, Trellance will refer organizations to CU Engage. The resulting commercial partnership makes it easier for credit unions to select or work with two industry-leading providers whose services align with the initiatives credit unions are actively pursuing today.

“Credit unions and other financial institutions are increasingly using data-driven insights to run their operations,” shared Trellance Chief Product Officer, Paolo Teotino. “This new partnership with CU Engage brings data initiatives and vendor selection closer together, helping organizations execute faster on many of the enterprise projects that lead to organizational growth and improved member experience.… Read more

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. Our 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 trends. In this week’s installment, PSCU compares the third week of the year (the week ending Jan. 17, 2021 compared to the week ending Jan. 19, 2020).

“Performance for both debit and credit purchase volume remained strong in Week 3, with consumer spending of federal stimulus funds continuing to drive exceptional growth in debit,” said Glynn Frechette, SVP, Advisors Plus at PSCU. “In this week’s deeper dive, Card Not Present activity demonstrates how consumer behavior for purchases of Goods and Services has shifted throughout the pandemic to shopping apps, mobile wallets and other digital channels.”… Read more