By Ray Birch
TAMPA—Velera capped a pivotal 2025 by rolling out technology that allows credit unions to approve a digital loan and provision a payment card into a member’s mobile wallet in less than a minute and a half—a signal of how quickly the company is pushing toward real-time, frictionless payments and lending experiences.
For President and CEO Chuck Fagan, the milestone underscores the momentum of Velera’s first full year following the combination of Co-op Solutions and PSCU, as the company accelerates product integration, innovation, and industry advocacy.“2025 was a pretty remarkable year,” Fagan said, citing strong credit union adoption and industry support for Velera’s evolving platform and brand.
Beyond speed and convenience, Fagan emphasized fraud prevention as one of Velera’s defining strengths. With fraudsters increasingly deploying artificial intelligence, identity-theft schemes, and sophisticated digital tactics, Velera has doubled down on technology and workforce training to stay ahead of emerging threats.
The company continues to outperform industry averages in identifying and stopping fraudulent card activity while protecting credit unions from financial and reputational harm, Fagan pointed out.
“Fraud will always be a key focus,” Fagan said.
An Arms Race
Fagan described fraud prevention as an escalating arms race, with criminals adopting artificial intelligence, automated identity theft, and increasingly sophisticated social-engineering tactics to exploit digital channels.
“Every day is a new battle,” he said, noting that fraudsters continuously refine their techniques as quickly as financial institutions deploy new defenses. In response, Velera has prioritized both advanced fraud-detection technology and highly trained teams.
Looking ahead to 2026, Fagan said Velera plans to increase investment in fraud prevention even further, acknowledging that gains in one year can quickly be eroded if innovation slows. The company is expanding its use of AI-driven analytics, behavioral monitoring, and real-time transaction intelligence to help credit unions stay multiple steps ahead of evolving threats.
As fraud schemes become more automated and scalable, Fagan emphasized that proactive, technology-driven defense will be essential—not only to protect members from financial losses and identity theft, but also to preserve trust in digital payments and lending as credit unions continue modernizing their platforms.
Chuck Fagan
At the same time, Velera has invested heavily in its data strategy, positioning credit unions to deliver more personalized and relationship-driven experiences. The goal, Fagan said, is to help institutions use richer data to deepen engagement across payment products and broader member relationships. Personalization, he added, is no longer a competitive advantage—it’s a baseline expectation for today’s consumers.
Upgraded Tools And Technologies
Those priorities are set to accelerate in 2026. Velera plans to roll out upgraded tools and technologies inherited from its two legacy organizations, giving credit unions access to expanded capabilities under a unified platform. Digital lending will also receive even greater investment, as the company works to help credit unions build more customized member ecosystems through expanded APIs and integration tools.
“Credit unions want to create the experience they believe best serves their members,” Fagan said. “Our job is to enable that.”
Velera is also positioning itself as a vocal advocate on policy issues that could reshape credit union card economics. Fagan expressed ongoing concern about legislative efforts, such as proposed credit card interest-rate caps and renewed pushes tied to the Credit Card Competition Act. Velera has aligned with organizations—including America’s Credit Unions, the Defense Credit Union Council, state leagues and the Electronic Payments Coalition—to support industry advocacy, both with expertise and, when needed, financial backing.
Fagan warned that rate caps or reduced card income could restrict credit availability for members, potentially pushing consumers toward higher-cost payday and predatory lenders.
“That’s not a good outcome for credit unions or their members,” he said, arguing that credit union card programs remain among the most consumer-friendly options in the market.
As Velera enters 2026, Fagan framed the company’s trajectory as one of acceleration rather than consolidation—building on combined synergies while expanding investments in fraud defense, digital lending, data intelligence, and customizable technology stacks. The underlying mission, he said, remains consistent: helping credit unions protect members, deepen relationships, and compete in a rapidly evolving payments and lending environment.