PSCU announced it paid out a patronage dividend of $25.4 million for fiscal 2017. The credit union service organization noted that it also previously distributed a payment of $5.5 million related to the prior issued capital credits.

“During 2017, PSCU made investments of nearly $25 million in innovative solutions and leading-edge technologies for credit unions to better interact with their members,” said PSCU President and CEO Chuck Fagan in a statement. “Since our inception more than 40 years ago, our focus has been on driving the success of our owners by providing best-in-class payments solutions and an unparalleled member experience. This will continue in 2018 and beyond.”

Chuck Fagan, CEO of PSCU, speaking at PSCU's 2017 Member Forum
Chuck Fagan, CEO of PSCU, speaking at PSCU's 2017 Member Forum

PSCU also said that it has issued a total of $490.1 million in patronage dividends – almost 50 percent of which has been paid in cash – since becoming a cooperative in 1994. PSCU’s cooperative structure enables distribution of the company’s earnings to its owner credit unions as tax-free patronage dividends.

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