A national payments credit union service provider has added three Connecticut credit unions.
St. Petersburg, Florida-based PSCU announced earlier this week that Sikorsky Financial Credit Union, Wepawaug-Flagg Federal Credit Union and Healthcare Financial Federal Credit Union have all signed agreements with the company for a variety of services including credit and debit processing and bill pay.
“PSCU delivers a highly integrated suite of traditional and digital payments solutions to hundreds of credit unions across the country, affording members seamless access to transact with the credit union brand across all channels,” Scott Wagner, executive vice president and chief revenue officer at PSCU, said in a statement. “Through continued investments in technology, service delivery and fraud mitigation, PSCU effectively meets the changing dynamics of the payments industry and delivers on PSCU’s promise of growth, while helping to fuel the credit union’s highest returning asset.”
With more than 52,000 members, Sikorsky Financial Credit Union chose PSCU for credit and debit processing, as well as bill pay, due to the high impact these services have on its members and their importance to the credit union’s bottom line.
“We decided PSCU was the right partner for us due to the company’s comprehensive card processing solution, robust fraud monitoring and back office support,” Vincent Ciambriello, CEO of Sikorsky Financial Credit Union, said in a statement. “We believe this is a true, strategic partnership that will benefit us for many years to come.”
Wepawaug-Flagg Federal Credit Union had similar reasons for choosing to join the cooperative. Serving more than 12,000 members, the credit union converted its debit and credit card programs over to PSCU more than a year ago.
“The decision to join PSCU has improved our member service and resulted in cost savings,” Michael J. Hinchey, president and CEO of Wepawaug-Flagg Federal Credit Union, said in a statement. “Pre-conversion support was outstanding, and the transition to the ongoing support team was seamless. Like most credit unions, we deal with member fraud issues almost daily. Working with the fraud services team at PSCU, we have been able to implement special risk mitigation rules to reduce potential losses to the credit union and minimize member inconvenience in the short-term, as well as develop and implement longer term risk reduction measures.”
Healthcare Financial Federal Credit Union was seeking a partner that would attend to their members’ needs regardless of size and ensure they were treated with the same importance as larger credit unions.
“We chose to join PSCU not only because it made sense for us from a financial perspective, but also because it gives us the opportunity to utilize many more services than were offered by our previous partner,” Josephine I. Savino, CEO of Healthcare Financial Federal Credit Union, said in a statement.
The credit union will move both its debit and credit card portfolios to the cooperative in early 2019 for processing services. The conversion process is already underway.