PSCU and Corporate One Federal Credit Union said that they have signed a long-term agreement under which PSCU will provide credit and debit card servicing to Corporate One credit unions and their members.
In total, the parties explained, PSCU will provide processing and servicing support to a total of 55 Corporate One credit unions, representing almost 100,000 credit and debit card accounts.
This new agreement extends the “scope and value of the relationship” beyond payment processing and call center support, which PSCU has provided for Corporate One since 2010.
Specifically, under the new agreement, PSCU’s Account Management and Service Delivery teams will ultimately assume responsibility for providing direct support of the management and staff of Corporate One’s credit unions. PSCU noted that it is now “actively working” on the plan to complete the transition by October 1.
“We are excited for the opportunity to help Corporate One meet and exceed the expectations of their credit unions and members for the best service and growth experience possible,” said Chuck Fagan, PSCU’s president & CEO, in a statement. “Our new agreement more tightly aligns PSCU with the payment offerings and strategic objectives of Corporate One’s credit unions.”
Corporate One credit unions’ accounts already reside on the PSCU platform, which means no data conversions are needed and no “impact” is expected to credit union staff and cardholders, the entities added. Also, as patronage members of PSCU, Corporate One credit unions will continue to be entitled to receive annual patronage dividends from the CUSO.
Lee Butke, president & CEO of Corporate One, stated that they recognize that payments represent “our credit unions’ strongest tie to their members and also serve as a top source of non-interest income.”