PSCU, the St. Petersburg, Fla.-based credit union service organization (CUSO), said 11 of its owner credit unions have signed long-term contract renewals for the CUSO's credit and debit processing services.
PSCU noted that, in the aggregate, the eleven renewing credit unions support 1.4 million credit and debit card accounts for their members and account for 182.2 million transactions annually. The CUSO added that the average tenure of the credit unions' membership in the PSCU cooperative is 17 years.
The eleven institutions comprise: Arsenal Credit Union (based in Arnold, Mo., $217 million in assets), Catholic Federal Credit Union (Saginaw, Mich., $341 million), Coastline Federal Credit Union (Jacksonville, Fla., $123 million), Credit Union of America (Wichita, Kan., $700 million), Dupont Community Credit Union (Waynesboro, Va., $1.1 billion), Florida Credit Union (Gainesville, Fla., $747 million), InFirst Federal Credit Union (Alexandria, Va., $170 million), Lafayette Federal Credit Union (Kensington, Md., $487 million), Mid-Minnesota Federal Credit Union (Baxter, Minn., $283 million), Wanigas Credit Union (Saginaw, Mich., $307 million) and Wright Patman Congressional Federal Credit Union (Washington, $836 million).
The credit unions cited several factors that contributed to their renewal decisions, including the "convenience of single-source access" to credit and debit programs and support; the CUSO's "responsiveness to operational issues" and inquiries; "high level of personal attention" from PSCU's service staff; "growth benefits" of their consulting relationships with Advisors Plus; and the "opportunity to have a voice in the CUSO's strategic and tactical advisory and planning processes."
