8/24/21 – PSCU, the nation’s premier payments credit union service organization (CUSO), today announced that its Board of Directors has approved an additional investment of $54 million in Lumin Digital, PSCU’s cloud-native digital banking company, over the next three to five years. This investment will bring PSCU’s total investment to $125 million since the formation of Lumin Digital in April 2018, with continued investment expected to be announced in the near future.
This additional investment will enhance Lumin Digital’s ability to elevate its industry-leading platform for retail and business banking, including advanced features such as online account opening and other capabilities. With market demand and growth remaining even higher than anticipated, this capital will also be used to scale Lumin’s implementation and support capacity to meet these market needs. Together with PSCU’s ongoing investments in its core programs like dispute management, data and analytics, fraud and more, this additional investment in Lumin Digital reinforces PSCU’s commitment to diversifying its business model and preparing both the cooperative and its credit unions for the future.… Read more
ACCORDING TO ACHIEVERS, EMPLOYEE RECOGNITION EXPERTS
Criteria for Award Based on Eight Factors of Employee Engagement
8/11/21 – CO-OP Financial Services has been named among the “2021 Achievers 50 Most Engaged Workplaces®” by Achievers, a provider of employee voice and recognition solutions. In making the announcement, Achievers President and CEO Jeff Cates said that CO-OP and the other award-winning organizations, “Embody what it means to be a ‘people-first’ business and have proven how the prioritization of employee experience can help an organization withstand even the most difficult of times.”
The Achievers 50 Most Engaged Workplaces is a highly competitive awards program, now in its tenth year, and receives submissions from around the globe. A panel of 15 judges comprised of employee engagement academics, industry analysts, thought leaders, journalists and influencers evaluated the applicants, whose names were not made known to the judges. Winners were selected based on Achievers’ Eight Elements of Employee Engagement®, including Accountability and Performance, Belonging, Equity and Inclusion, Culture Alignment, Manager Empowerment, Professional and Personal Growth, Purpose and Leadership, Recognition and Rewards, and Wellbeing.… Read more
8/6/21 – Indianapolis-based Electronic Recordkeeping Systems (ERS) has announced that, after serving the industry for 41 years, it was entering into a collaborative partnership with fellow Midwest-based core provider CU*Answers, the cooperative CUSO headquartered in Grand Rapids, Michigan. The two companies will be joining forces to help current ERS credit union clients convert to the CU*Answers CU*BASE® core data processing suite over the next 16 months.
ERS CEO Don Heierman said, “We are excited about the opportunity to partner with CU*Answers as we sunset our core system at the end of 2022. We sought out CU*Answers because our two companies share a mission to help credit unions not only survive but thrive. The credit unions we work with are used to an engaged partner that values their input, so the transition to CU*Answers’ credit union owned cooperative network will be a great fit for them. We are blessed to have a loyal client base, and my team and I look forward to working side by side with those clients and CU*Answers as they transition from our core.… Read more
8/3/21 — PSCU, the nation’s premier payments credit union service organization (CUSO), has announced that 4Front Credit Union (4Front) has joined the cooperative for credit and debit card processing services, as well as contact center support.
Based in Northern Michigan, 4Front maintains an unwavering commitment to creating the same personal connections it has sought with its members for the past 60 years. With more than $830 million in assets, the credit union looks for partners with forward-thinking roadmaps and the latest in digital services to ensure the financial needs and expectations of its members are exceeded. In looking for credit, debit and contact center services, 4Front was seeking a true partner committed to its success that would work collaboratively to ensure the credit union provides the best card and card-related services to its membership.
“Throughout the entire review process, PSCU consistently met our needs and provided the right portfolio of technology and service for 4Front and our members,” said Zach Eychaner, SVP of Remote Services & Technology at 4Front.… Read more
7/27/21 — Lumin Digital, a PSCU company, announced that it has partnered with Consumers Credit Union (Kalamazoo, Mich.) to create and pilot a new digital account opening product for Lumin Digital customers. This new and optional feature will empower Lumin-affiliated credit unions to quickly process membership qualifications and verify identities, easily fund accounts and much more, all while helping prevent fraud and reduce the number of third-party solutions needed by credit unions to support digital account opening.
Beginning this summer, Consumers Credit Union users will be able to apply for membership, complete their onboarding and transact online in less than five minutes. Founded in 1951, the $1.6 billion credit union is guided by its core mission of making a positive difference in the lives of members through extraordinary service, education and exceptional financial products that make it easy for members to choose how and when they want to bank.
“Our relationship with Lumin Digital is a key part of our long-term digital strategy to amaze and delight members at their point of preference, and the customer journey starts from the moment they first consider applying for membership,” said Lindsay Land, vice president of Operations at Consumers Credit Union.… Read more