Consumers Credit Union has switched to using PSCU Financial Services to handle its debit card and ATM processing, Jodi Gray, the Waukegan, Ill.-based credit union’s Visa card manager, tells PaymentsSource.
The Illinois Credit Union League, through First Data Corp., processed the financial institution’s transactions before the change occurred in February, Gray says. The league is based in Springfield, Ill. A spokesperson for Atlanta-based First Data declined to comment.
Consumers Credit Union, which has 52,000 members and $543 million in assets, converted 24,000 signature- and PIN-debit accounts to PSCU, which is based St. Petersburg, Fla. The credit union, which also has branches in North Waukegan, Gurnee, Round Lake Beach and Mundelein, owns and operates eight ATMs.
PSCU’s ATM-driving platform offered more features and better support services than First Data’s did, Sean Rathjen, Consumers Credit CEO, said in a statement. PSCU also cut the institution’s expenses, and it provides better ATM monitoring, according to Gray.
“We will save 35% on processing costs over our seven-year contact with PSCU,” Gray says.
Consumers Credit Union also will convert its 20,000 Visa-branded credit card accounts early next year to PSCU from First Data, Gray says.
