PSCU Expands Partnerships With 3 Credit Unions

Credit union service organization (CUSO) PSCU has expanded its partnership with three credit unions (CUs) based in the northeast, according to a Thursday (July 14) press release.

The CUs are Arrha Credit Union, CHROME Federal Credit Union and North Jersey Federal Credit Union (NJFCU), all of which have added debit processing support to their services, the release stated.

“[We] could not be prouder to have the opportunity to help these credit unions elevate and enhance their offerings and member experiences,” said Chris Gunnare, senior vice president and chief sales officer at PSCU, in the release.

Arrha, which holds more than $140 million in assets and is based in Springfield, Massachusetts, chose PSCU for debit processing support based on its experience with PSCU as its credit card processing provider, according to the release. That relationship began in 2016, while the debit services for Arrha’s over 9,000 members will begin in the middle of next year.

CHROME, headquartered in Washington, Pennsylvania, said in the release its goal is to unify debit and credit offerings for its 15,000 members. The CU has worked with PSCU on its credit program and will now turn to the CUSO for debit processing starting in October 2023.

Finally, NJFCU, based in Totowa, New Jersey, wanted access to cutting-edge technology to modernize its digital banking services, the release stated. PSCU will begin providing debit processing in August, as well as digital banking services through its Lumin Digital offering.

PYMNTS and PSCU collaborated on “Credit Union Innovation: The Race to Meet Consumer Demand,” a study that found a growing number of account holders at CUs and other financial institutions (FIs) would change FIs for ones that offered better digital services.

Read more: 66% of Credit Union Members Want the Same Fix

The study found “a record 29% of FI account holders would switch to an FI with more innovative products and services.”