Tucson (Ariz.) Old Pueblo Credit Union has signed a credit card processing deal with PSCU Financial Services to facilitate its re-entry into the cards market, one of dozens of credit unions reversing earlier exits from the cards business.
“Offering a credit card is essential in this marketplace,” said Joe Mirachi, president of the $130-million credit union. “We have new members joining us from large banks, and they are specifically looking for a consumer-friendly terms that only credit unions offer. In addition, we need to serve our existing members who are looking for low interest rates and low or no fees. Having an attractive credit card portfolio helps us satisfy and grow our membership.”
Tucson Old Pueblo exited the cards business when it sold its portfolio to Inficorp in 2005.
PSCU Financial, which already provides the credit union with electronic billing services, said it helped design a credit card offering that meets the credit union’s needs and developed promotions to attract new members and expand card use. Tucson Pueblo’s credit cardholders will have access to Total Member Care Contact Centers, which deliver 24-hour support.
The credit union said it has helped at least 24 credit unions re-enter the card market after they had sold their portfolios to third parties, with several other credit unions re-entering through other providers.
