PETERSBURG, Fla.—PSCU has announced the addition of three new owners to the cooperative from the state of Connecticut.
Sikorsky Financial Credit Union (Stratford), Wepawaug-Flagg Federal Credit Union (Hamden)and Healthcare Financial FCU (New Haven) have all signed agreements with PSCU 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,” said Scott Wagner, EVP and chief revenue officer at PSCU. “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 said it chose PSCU for credit and debit processing, as well as bill pay, due to the high impact these services have on its members andtheir importance to the credit union’s bottom line, according to PSCU.
“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,” said Vincent Ciambriello, CEO of Sikorsky Financial Credit Union. “We believe this is a true, strategic partnership that will benefit us for many years to come.”
PSCU said 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,” said Michael J. Hinchey, president and CEO of Wepawaug-Flagg Federal Credit Union. “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, PSCU said.
“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,” said Josephine I. Savino, CEO of Healthcare Financial.
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, PSCU said.
“I cannot say enough about how pleased we are with the process so far – we already feel like a valued part of the cooperative,” added Savino. “This will make life here at our credit union so much easier as many of the tasks our employees are currently performing on a daily basis will now be handled by PSCU.”
“As a CUSO, PSCU puts a premium on relationships with owners and partners like the Credit Union League of Connecticut. We are very excited to welcome these three credit unions to our cooperative and are looking forward to working with them to deliver industry-leading payments solutions for their members,” noted Wagner.