PSCU, the nation’s premier payments credit union service organization (CUSO), has announced that DuPage Credit Union (DuPage) has joined the cooperative as its newest Owner. PSCU will provide credit and debit processing services and support for the credit union’s more than 37,000 members beginning in 2021.
Headquartered in Naperville, Ill., with more than $433 million in assets, DuPage was seeking a card processor with the ability to provide its members with a unified experience across credit and debit services, including offerings such as alerts, travel notifications, lost/stolen card replacement and more. DuPage also wanted a partner that could help elevate its digital delivery for members’ credit and debit card and rewards experiences. PSCU’s strategic focus on digital technologies, enhanced rewards, and its proven ability to assist with growing credit and debit programs and member engagement were additional factors leading to the CUSO’s selection.
“PSCU was exceptional to work with throughout the entire vetting process,” said Diane Shelton, president of DuPage.… Read more
The BizLink team, a division of cooperative CUSO CU*Answers, is dedicated to working with credit unions to provide services to their business/commercial members. In August, the BizLink Advisory Board, a group composed of BizLink staff and credit union personnel, conducted their quarterly meeting to discuss updates on projects implemented in 2020, projects that are currently being worked on, as well as discussing other concepts that the Advisory Board has an interest in pursuing for their business members.
Element Federal Credit Union CEO Linda Bodie spent time demonstrating the portal that her credit union created for a business member they have been working with. “The goal with the portal was to provide our business member the ability to quickly access the tools and services that we provide to them,” said Bodie. “We feel this is the best way for our busines partner to know who they can contact if they have questions, as well as providing them a single location to complete their daily tasks.”… 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. 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 34th week of the year (the week ending August 23, 2020 compared to the week ending August 25, 2019).
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- Overall card payment volume growth rates improved in Week 34.
- Debit card spend was up 18.1%, which is higher than the prior four-week average of +16.1%. Transactions were up 4.7% and have been positive for eight consecutive weeks.
- Credit card spend finished in positive territory for the first time in 23 weeks, up 0.9%, which is better than the four-week average of -1.9%.
CU*Answers, the Grand Rapids, Michigan-based core data processing CUSO, recently announced it is accepting applications from credit unions to beta test the upcoming 20.11 release of its flagship core platform CU*BASE®. Credit unions chosen for beta testing the release will earn a $3,000 CollabRebate for testing new CU*BASE tools and features.
“As a cooperative CUSO, the involvement of our credit union partners in the software development life cycle is critical,” said Scott Collins, CU*Answers EVP of National Sales. “By participating in the beta of our software releases, those credit unions not only ensure a strong official release for the rest of the network, but they also benefit from early access to new tools and features. Providing a financial incentive in the form of a rebate on their invoice is our way of thanking them for being part of the cooperative process.”
Credit unions chosen provide feedback during and following the beta period to the development team at CU*Answers.… Read more
Great Meadow Federal Credit Union (GMFCU) is the latest credit union to become an eDOC Innovations stockholder. Headquartered in the picturesque town of Granville, bordering the state of Vermont, GMFCU has over $50M in assets and serves nearly 6,000 members in three upstate New York counties (Essex, Warren, and Washington) and three Vermont counties (Addison, Bennington and Rutland).
“It is my great privilege and pleasure to welcome Great Meadow to the ownership group at eDOC Innovations,” stated Mark Fierro, CEO of eDOC. “Their collaboration with us is a testament to our cooperative CUSO business model which is thriving in the credit union space. Our future as an industry is deeply reliant upon industry thought leaders coming together to form cohesive partnerships and drive forward the digital innovations that keep us relevant to our members and communities. Our movement is one where people and organizations who share the same passion of people-helping-people participate in collaborative development projects, and the end result is always about the elevation of the whole.”… Read more