PSCU's Serlo Loses His Battle With Cancer

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ST. PETERSBURG, Fla.-David Serlo, a one-time NCUA examiner who was the first full-time employee of PSCU Financial Services and built the company into the leading CUSO, has died of a complication from cancer at 63.

Earlier this year, PSCU named Mike Yatros as interim CEO and formalized a management team as Serlo took leave for treatment.

"PSCU Financial Services is positioned for continued growth using the Serlo stylebook that has long been embraced by the leaders of this company. His visionary contributions to this industry will impact credit unions and their members for decades to come," said Craig Esrael, president of First South CU and chairman of the PSCU board.

Serlo joined what was then known as Payment Systems for Credit Unions in 1983 after 13 years as an NCUA examiner, and built the CUSO into a company that annually pays millions of dollars in dividends to its credit union owners, provides services to more than 1,500 financial institutions, and has more than 1,700 employees.

Serlo served on the board the National Association of CUSOs, Credit Union Miracle Day, Inc., and numerous advisory councils of the industry. He was a member of Visa's Card Operations Risk Executive Council and funded important industry research through his commitment to Filene Research Institute. He also spearheaded the role of PSCU Financial Services as the lead corporate sponsor of the Credit Union Cherry Blossom Run, a Washington, D.C., based event that brings national attention to the role of America's credit unions.

Funeral services were held in Tampa, Fla.

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