CareCredit - Women's Health April 2024

PSCU to Support Horizon Credit Union’s Card Programs and ATMs

Horizon Credit Union, a nonprofit financial cooperative with more than 30 locations in four states, has partnered with PSCU, a credit union service organization (CUSO) and integrated financial technology solutions provider.

The partnership will see PSCU provide services and support for Horizon Credit Union’s debit and credit card programs and ATMs, the organizations said in a Thursday (Sept. 28) press release emailed to PYMNTS. PSCU will begin providing the services in July 2024.

Wendie Ellis, director of payment services at Horizon, said in the release that the credit union believes the partnership will take its card programs “to the next level,” as PSCU provides offerings like digital issuance, analytics and fraud detection. The companies will also focus on system effectiveness and member satisfaction.

Horizon Credit Union, established as Kaiser Employees Federal Credit Union in 1947 and renamed Horizon in 1981, has branches throughout eastern Washington, Idaho, western and central Montana, and eastern Oregon, according to the release. It has $2.1 billion in assets and nearly 113,000 members.

PYMNTS Intelligence found that more than half of credit unions are partnering with industry consultants and CUSOs to roll out innovations.

They are doing so to meet credit union members’ demands for product innovation, as 27% of members said they would switch where they keep their financial accounts to find such products, according to “Credit Union Innovation: Product Development Slowdown Tests Member Loyalty,” a PYMNTS and PSCU collaboration.

“It is always ‘what’s next?’” PSCU Chief Growth Officer Brian Scott told PYMNTS in an interview posted Sept. 7, speaking of the desire of financial institutions to innovate. “… And then, it’s ‘how do we compete with what’s coming next?’”

“There are a lot of things that are coming next,” he added. “Some of them we’re aware of because we can look around the rest of the world and see them coming, like open banking… and faster and instant payments with the new FedNow® Service.”

Many financial institutions have paused innovation to take a “wait-and-see approach,” he said.

“And I’d say just the opposite,” he explained. “Now is a great time to double down on the innovation.”