Subprime account holders may be driven toward banking innovations in their quest for financial wellness. It’s difficult enough to tread water as a consumer with subprime credit, whose 600 or below score often means they face higher borrowing costs and fees than consumers with prime or...
Neches Federal Credit Union has picked PSCU for credit card processing services and support. PSCU, a credit union service organization, announced the partnership in a news release provided to PYMNTS Tuesday (Aug. 22). “After a rigorous evaluation and extensive research process, Neches FCU identified PSCU as the ideal...
PSCU Chief Growth Officer Brian Scott told PYMNTS that younger generations are more challenged than their older peers. “They just have not had the same amount of time to create a savings ‘pool’ or even to create good financial habits, so they struggle more than other groups during...
Consumers in the United States rely less on their primary financial institution (FI) for major credit products than they used to. Many are shopping around for better deals on rates and terms and for a larger variety of products, resulting in increased competition from non-bank...
The Yonkers Postal Employees Credit Union (Yonkers CU) has been placed into conservatorship by the New York State Department of Financial Services (DFS), with the National Credit Union Administration (NCUA) appointed as conservator. The move was made to protect Yonkers CU members, and normal member...
Earnings season is underway, spotlighting a new reality for smaller banks in a long, hot summer. “They’ve had to re-engineer managing their business from just two years ago,” Chuck Fagan, president and CEO of PSCU, told Karen Webster. As these financial institutions (FIs) begin their...
Union Credit on Monday (July 17) announced the launch of what it called the “first marketplace for credit unions to make firm, one-click credit offers at the point of purchase.” According to a news release, the marketplace lets CUs reach new and credit-worthy members who aren’t...
As inflation remains stubbornly in place and credit gets ever more expensive, credit unions may have a secret weapon. Scott Young, managing VP of Emerging Services at PSCU, told PYMNTS that credit unions (CUs) stand to benefit from their lending operations, appealing to critical demographics,...
Credit unions need to innovate — and quickly. Scott Young, managing VP of emerging services as PSCU, said credit unions (CUs) have the tools, and, importantly, the member and enterprise relationships in place to build relationships for the long term. No matter how impatient we...
