Erie Federal Credit Union (Erie FCU) has completed its conversion to having PSCU/Co-op Solutions provide debit and credit card processing services and support.
Erie FCU formalized its agreement with the payments credit union service organization (CUSO) in August 2022, completed the credit card conversion in May and finished the debit card conversion in August, the companies said in a Tuesday (Feb. 20) press release.
“Taking on the challenge of two conversions in one year, PSCU’s team made the process as seamless and member centric as possible, with quick responses to avoid disruptions,” Erie FCU Chief Marketing Officer Tom Brennan said in the release. “This partnership led to our credit union gaining operational efficiencies and offering our members industry-leading card products and services, including the latest security features and contactless payments.”
Erie FCU serves the communities of Erie and Crawford County, Pennsylvania, according to the release. It has more than 76,000 members and over $779 million in assets.
The credit union partnered with PSCU to streamline both debit and credit card processing on a single vendor’s unified platform, boosting efficiency and facilitating exceptional cardholder experiences, the release said.
It selected the payments CUSO after a vetting process that considered its size, growth plans and track record of service to other credit unions, per the release.
“We are proud to collaborate with Erie FCU to deliver advanced card processing solutions that will further elevate the experiences of their valued members,” Brian Scott, executive vice president and chief growth officer at PSCU/Co-op Solutions, said in the release. “Following a successful conversion process in 2023, we are excited to strengthen our relationship and contribute to their continued growth and success.”
PYMNTS Intelligence has found that credit unions and community banks can win a sizable share of national bank cardholders by offering key credit card features.
More than one-third of national bank cardholders would be highly likely to switch if these smaller financial institutions offered credit card features like rewards and cash back programs, the ability to split payments and adjustable spending limits, according to “Credit Unions and Community Banks Gain Credit Card Issuing Momentum,” a PYMNTS Intelligence and Elan Credit Card collaboration.
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