COLUMBIA, S.C. — Palmetto Cooperative Services, LLC (PCS) reported it has completed a campaign to raise additional capital necessary to support additional growth by the CUSO.
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Twenty-six South Carolina CUs, along with South Carolina Service Corp., have agreed to provide more than $8-million in capital. Established in 1969 as a wholly-owned subsidiary of the South Carolina Credit Union League, PCS earlier this year was spun out as an independent CUSO.
"The new funding will be used for debt restructuring, research and development, and marketing enhancements," according to the CUSO, which provides item processing services, Check 21 solutions, paper and electronic statements, and periodic notices to nearly 400 CUs nationally.
