PSCU, formerly Payment Systems for Credit Unions, is the largest credit union service organization in the United States.[1] The organization was founded in 1977 and is based in St. Petersburg, Florida.[2][3][4][5]
 | |
| Company type | Private |
|---|---|
| Industry | Credit union |
| Founded | 1977 |
| Headquarters | |
| Services | Credit, debit ATM and prepaid card processing, electronic banking and bill payment |
Number of employees | 5000 |
| Website | www |
History
editIn 1977, five Florida credit unions joined together and founded PSCU.[4] PSCU started a mobile banking platform compatible with iOS in November 2009.[1] That same year, the company released its CardLock fraud prevention program.[6] PSCU was the first organization to issue Visa pre-paid EMV cards in August 2012.[7] The company hosts an annual 24-hour brainstorming competition which aims to create technology for the banking community that began in 2012.[8][9][10]
PSCU announced in February 2013 that the company would be partnered with MasterCard to make the MasterPass technology available to the members of the credit union.[11] The company chose PricewaterhouseCoopers in April 2013 to serve as an external independent certified public accounting firm for auditing and tax services for the company.[12] In June 2013, PSCU opened a data center in Phoenix, Arizona.[13] The organization started "Make Your Money Matter," an online and social media campaign that educated consumers on the difference between banks and credit unions, in 2013.[14][15]
In February 2014, PSCU received a patent for the CardLock fraud prevention system.[6] The initiative won an award for best website in the educational resources category at South by Southwest in Austin, Texas.[15] By March 2015, the program covered 250 credit unions.[16]
In March 2015, Chuck Fagan, former president of the Credit Union Executive Society, was named CEO of PSCU.[17][18] PSCU won a Stevie Award for Contact Center of the Year in the Financial Service Industry in 2015.[19]
PSCU partnered with Colonial Williamsburg on electronic educational programs for schools in the United States.[20]
In November 2023, St. Petersburg-based PSCU announced a merger with the California fintech firm Co-op Solutions, creating a new organization with over 5,000 employees and an annual revenue of $1.3 billion.[21] The merger, expected to close by the end of 2023, will integrate the operations under a holding company at PSCU's headquarters. PSCU President and CEO Charles "Chuck" Fagan will lead the new entity, which aims to be the premier fintech solutions provider, enhancing growth and innovation in line with the evolving payments landscape. This development follows PSCU's recent investments in digital technology and the acquisition of Juniper Payments LLC to enhance payment processing speeds.[22]
References
edit- ^ a b Chris Harnick (November 10, 2009). "PSCU Financial Services launches mobile banking platform with iPhone app". Retrieved February 25, 2015.
- ^ "PSCU Drops 'Financial Services' in Move 'Forward': Onsite Coverage". March 19, 2012. Retrieved February 25, 2015.
- ^ Jeff Harrington (September 11, 2014). "St. Petersburg credit union firm hosts 24-hour tech brainstorming contest". Retrieved February 25, 2015.
- ^ a b "200 Biggest Private Companies" (PDF). Retrieved February 25, 2015.
- ^ "Geeks' goal at PSCU - a knockout". September 11, 2014. Retrieved February 25, 2015.
- ^ a b Andrew Kaleita (February 28, 2014). "PSCU receives patent for CardLock fraud solution". Bank Credit News. Retrieved November 29, 2015.
- ^ "PSCU First To Launch Prepaid EMV Cards". August 2, 2012. Retrieved February 25, 2015.
- ^ Jeff Harrington (September 11, 2014). "St. Petersburg credit union firm hosts 24-hour tech brainstorming contest". Tampa Bay Times. Retrieved November 29, 2015.
- ^ John Coxon (October 28, 2014). "CCU Names National Champion in Innovation Competition". Chicago Tribune. Retrieved November 29, 2015.
- ^ Marc Rapport (October 14, 2013). "PSCU names KnockOUt winners". CU Insight. Retrieved December 30, 2015.
- ^ David Morrison (February 25, 2013). "MasterCard Finds Credit Union Partners for Digital Wallet". CU Insight. Retrieved December 30, 2015.
- ^ Jo-Lynn Brown (April 17, 2013). "PSCU taps PricewaterhouseCoopers for auditing and tax services". Tampa Bay Business Journal. Retrieved December 30, 2015.
- ^ "PSCU Opens Up $2.9M Data Center In Phoenix". June 17, 2013. Retrieved February 25, 2015.
- ^ Myriam DiGiovanni (November 4, 2013). "Eight CUs in 'Make Your Money Matter' Campaign". Credit Union Times. Retrieved December 30, 2015.
- ^ a b Margie Manning (April 2, 2014). "'Digital natives' shape future for PSCU, GTE". Retrieved February 25, 2015.
- ^ David Morrison (March 10, 2015). "PSCU Cracks Millennial Code: Onsite Coverage". Credit Union Times. Retrieved November 29, 2015.
- ^ Ashley Gurbal Kritzer (March 20, 2015). "PSCU names new CEO to replace ousted Michael Kelly". Tampa Bay Business Journal. Retrieved November 29, 2015.
- ^ "St. Petersburg-based credit union services provider names new CEO". Tampa Bay Times. March 20, 2015. Retrieved November 29, 2015.
- ^ "2015 Stevie Award Winners". Stevie Awards. Retrieved November 29, 2015.
- ^ "Colonial Williamsburg and PSCU Financial Services". Retrieved February 25, 2015.
- ^ Brezina, Veronica (2023-11-07). "St. Pete's PSCU to merge with California company - St Pete Catalyst". St Pete Catalyst - Your seat at the table. Retrieved 2023-11-08.
- ^ "St. Pete's PSCU strikes merger deal with industry rival to create $1.3B organization". www.bizjournals.com. Retrieved 2023-11-08.