Velera will begin providing the credit union with credit card processing support in August and will add debit in September, the companies said in a Tuesday (June 3) press release emailed to PYMNTS.
“We are excited to work alongside an innovative payments provider like Velera that will allow us to better meet the evolving financial needs of our members,” Peach State FCU Chief Operating Officer/Project Management Laura Ryll said in the release.
Yvonne Stelpflug, senior vice president, client growth management at Velera, said the CUSO will help the credit union “adapt to and keep pace with the dynamic payments landscape.”
“We are confident that our card processing solutions and shared dedication to industry-leading service for credit union members will help position Peach State FCU to succeed and grow,” Stelpflug said in the release.
Velera serves more than 4,000 financial institutions across North America, providing payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and point-of-sale networks, shared branching and member support, according to the release.
Credit unions of all asset sizes are shifting their strategies, allocating resources and responding to rapidly evolving member needs, according to the PYMNTS Intelligence and Velera collaboration, “Credit Union Innovation Readiness Index: The Smallest Step It Up.”
The report found that credit unions are adopting real-time payments, contactless cards, mobile wallets, credit apps, and artificial intelligence-powered customer service and budgeting tools.
Velera has an executive committee made up of executives of credit unions of all sizes, from across the United States, that helps guide its direction.
“Each of these leaders brings a unique blend of expertise and perspective that will be instrumental in shaping our path forward during this pivotal time across the credit union and financial services industries,” Velera President and CEO Chuck Fagan said in a Tuesday (May 27) press release announcing the latest appointments of board members.
