PSCU Automates Transactions and Improves Efficiency

PSCU has successfully automated many of its transactions, reducing manual errors and increasing efficiency.

By leveraging technology, PSCU has streamlined its processes, allowing its employees to focus on higher-value tasks.

With automated transactions, PSCU has seen a significant reduction in manual errors, which has improved the overall quality of its services.

This automation has also enabled PSCU to respond quickly to changing market conditions and customer needs.

PSCU was founded in 1977 by five Florida credit unions joining forces. In 2009, the company launched its mobile banking platform compatible with iOS, marking a significant step in digital banking.

The same year, PSCU released its CardLock fraud prevention program, providing an added layer of security for its members. This innovative approach helped protect users from financial threats.

In 2012, PSCU made history by becoming the first organization to issue Visa pre-paid EMV cards. This achievement showcased the company's commitment to staying ahead of the curve in technology.

PSCU's annual 24-hour brainstorming competition, which began in 2012, aims to create technology for the banking community. This initiative has led to the development of innovative solutions that benefit credit unions.

In 2013, PSCU partnered with MasterCard to make MasterPass technology available to its members. This collaboration expanded the company's offerings and provided users with a more seamless experience.

PSCU chose PricewaterhouseCoopers as its external independent certified public accounting firm in April 2013. This move ensured the company's financial stability and integrity.

PSCU opened a data center in Phoenix, Arizona, in June 2013, further expanding its infrastructure. This strategic move allowed the company to better serve its growing membership.

In 2013, PSCU launched the "Make Your Money Matter" campaign, educating consumers on the differences between banks and credit unions. This initiative aimed to empower users with knowledge and promote financial literacy.

PSCU received a patent for its CardLock fraud prevention system in February 2014. This recognition validated the company's innovative approach to security.

The CardLock program won an award for best website in the educational resources category at South by Southwest in 2014. This achievement highlighted the program's effectiveness and user-friendliness.

By March 2015, the CardLock program had covered 250 credit unions, demonstrating its widespread adoption and impact.

A unique perspective: ITHINK Financial Credit Union

PSCU is a force to be reckoned with, automating over 71,000 transactions a year. This is a testament to their ability to streamline processes and improve efficiency.

As the nation's largest credit union service organization, PSCU has the expertise and resources to make automation a reality.

Their integrated financial technology solutions are designed to simplify complex tasks, making it possible for them to handle such a high volume of transactions.

PSCU's focus shifted to continuous improvement after EEM was fully onboarded, aiming to reduce attrition numbers and enhance the agent experience.

The company wanted to improve employee engagement, reduce manual analysis, and offer more proactive VTO and OT opportunities. This involved addressing challenges in schedule changes, which were still being manually handled by agents.

PSCU's real-time agents were still manually adjusting breaks, start of shift, and end of shift based on adjusted schedules, resulting in back-and-forth emails between supervisors and agents. This made approving VTO and OT time-consuming and difficult, with outdated training materials as new features were considered.

PSCU's Open Cloud Platform offered endless customization options with RESTful APIs and robust SDKs, as well as a Partner Ecosystem for shared success and collaboration.

Velera is a rebranded company that emerged from the merger of PSCU and Co-op Solutions. It's based in St. Petersburg and led by Charles E. “Chuck” Fagan.

Fagan was previously the president and CEO of PSCU, and he's excited about the new brand. He believes that Velera will give credit unions a competitive advantage in the rapidly evolving market.

Velera's goal is to drive momentum for credit union missions across the country.

PSCU's help desk team of 60 agents was the perfect size for an initial implementation of EEM, resulting in a 90% enrollment rate within the first month. Each agent had access to additional self-service tools for scheduling, VTO, and OT.

The team's success can be attributed to the comprehensive training materials, built from existing documentation and informational videos from NICE. These materials were revamped to better explain the steps for each type of request in both web and app formats.

Supervisor training materials were also updated to enable better support for the agents. This led to a significant reduction in issues and questions, ensuring the adoption of EEM by the larger population.

The updates to EEM focused on giving agents more control over their schedule, including removing limits on schedule swaps, shift trades, and real-time notifications about available VTO and OT. These changes were a huge success, with a 97% participation rate achieved within six months.

Here's a breakdown of the key updates:

These updates not only improved agent satisfaction but also reduced the administrative workload for supervisors, enabling them to focus on more strategic tasks.

PSCU has formed a new partnership with Gulf Coast Educators Federal Credit Union to provide debit and in-house credit processing services.

This partnership allows the credit union to consolidate multiple services under one provider, giving them more customized and efficient debit and credit offerings for their members.

Consider reading: Credit Union Debit Cards

Gulf Coast Educators FCU has over 56,000 members and assets of $1.2 billion, and they're dedicated to serving the financial needs of school employees and their families throughout Texas.

PSCU has also partnered with CUNA Mutual Group to explore opportunities surrounding the expanded use of data and analytics, with a goal of benefiting credit unions and the industry as a whole.

This partnership aims to bring shared value to the credit union industry, and will explore innovation and strategic development ideas by leveraging collective capabilities in digital and analytics solutions.

The companies will also explore areas to further enable actionable growth strategies through data analytics, improving member intelligence and accelerating analytics adoption to help strengthen credit unions for the future.

Gulf Coast Educators Federal Credit Union, based in Pasadena, Texas, has partnered with PSCU/Co-op Solutions to provide debit and in-house credit processing, as well as ATM Terminal Driving services.

The credit union, founded in 1948, serves over 56,000 members and has assets of $1.2 billion.

PSCU/Co-op Solutions specializes in providing card solutions tailored specifically for credit unions, making them a perfect fit for Gulf Coast Educators FCU.

The partnership will allow the credit union to consolidate multiple services under one provider, making it easier for them to manage their operations.

Member experience is a top priority for Gulf Coast Educators FCU, and the partnership will enable them to provide their members with enhanced self-service tools and a seamless shopping experience.

With in-house credit, the credit union will maintain control of their back-office operations, while PSCU/Co-op Solutions provides card fulfillment, cardholder benefits, security, loyalty programs, and data analytics tools.

The partnership will also provide the credit union with debit services, including member loyalty, security, and efficiency benefits.

ATM Terminal Driving will help reduce costs, improve operational efficiency, and engage users.

Gulf Coast Educators FCU is dedicated to serving the financial needs of school employees and their families throughout Texas.

The partnership is expected to result in more customized and efficient debit and credit offerings for the credit union's membership.

PSCU and CUNA Mutual Group have announced a new partnership to explore opportunities surrounding the expanded use of data and analytics for credit unions.

This partnership aims to bring shared value to the credit union industry by leveraging collective capabilities in digital and analytics solutions.

PSCU's Member Insight is a suite of advanced analytics tools that helps credit unions uncover insights and actions based on thousands of database searches conducted annually.

CUNA Mutual AdvantEdge Analytics provides comprehensive technology and data analytics services for credit unions.

The new partnership will explore innovation and strategic development ideas, including additional infrastructure for the AdvantEdge Analytics Data Platform.

The companies will also explore areas to further enable actionable growth strategies through data analytics.

Shazia Manus, chief strategy and business development officer for CUNA Mutual AdvantEdge Analytics, sees this partnership as an exciting step for industry collaboration.

The goal is to build a better digital experience for credit unions and their members by leveraging collective capabilities in digital and analytics solutions.

This partnership aims to strengthen credit unions for the future by improving member intelligence and accelerated analytics adoption.