ST. PETERSBURG, Fla./MERIDEN, Conn.–PSCU and the Credit Union League of Connecticut (CULCT) announced today a long-term agreement effective for credit, debit and bill pay processing, in addition to 24/7/365 contact center support for the league’s credit unions.
“Our agreement with PSCU represents an exciting new partnership that promises to enable credit unions of all sizes in the League to more successfully compete and grow,” said Jill Nowacki, CEO of CULCT. “PSCU’s cooperative business model, commitment to continual investment in technology and partnerships, and the depth and talent of their resources make them an ideal partner for the Credit Union of League of Connecticut to help make Connecticut credit unions successful.”
Under terms of the agreement, PSCU said it will provide debit and credit card and bill payment processing services to the CULCT credit unions as well as 24/7/365 contact center support for credit union members.
In a statement, the league’s executive management and board said they based their decision to align with PSCU on several key factors, including the scale and buying power of PSCU and the CUSO’s superior service and account relationship model.
“We feel technology is a great equalizer, especially when placed in the hands of smaller credit unions,” said Nowacki. “PSCU’s payment card platforms and commitment to new payments technologies such as analytics, EMV and digital wallets, will give our credit unions a distinct competitive edge going forward.”
“The power of a leading CUSO like PSCU, with its collective buying power, broad range of payment solutions, processing expertise and resources for technology and service, gives smaller credit unions the ability to compete more effectively with larger financial institutions in terms of functionality, access to new technology and operational cost savings,” said Chuck Fagan, PSCU President & CEO.
The processing and service agreement with CULCT represents the second partnership PSCU has formed with a credit union league, following a similar agreement the CUSO signed with the Indiana Credit Union League in April 2014.