Credit Union Of Texas Taps PSCU For Expanded Partnership

Payments credit union service organization (CUSO) PSCU will provide credit processing support in addition to support services for debit for Credit Union of Texas as part of an expanded partnership, according to a Tuesday (March 30) press release emailed to PYMNTS.

“The Credit Union of Texas team was seeking a partner that understands our credit union’s goals and has the technology infrastructure to stay on top of the changing landscape, all of which we found in PSCU,” Credit Union of Texas Chief Administrative Officer Angela Faust said in the release. “PSCU offered a number of enhancements to our credit card offering, including a combined credit and debit rewards program and better control over our credit risk through the CUSO’s fraud monitoring tools.”

PSCU has offered debit services to Credit Union of Texas for a number of years, “making an expansion into credit services a seamless transition,” according to the release. To that end, PSCU will offer credit card services and support to the credit union (CU) starting in the summer.

“We are always honored to have the opportunity to grow a relationship with a longtime partner, and we are especially pleased Credit Union of Texas chose to expand its partnership with us,” Brian Scott, senior vice president, chief growth officer at PSCU, said in the release. “We look forward to continuing to work with the team to provide its members with the seamless experience they have come to know and expect from their trusted credit union partner.”

The news comes as the pandemic has sped up the digital progress of CUs. PSCU President and CEO Chuck Fagan previously told PYMNTS that there’s a new urgency behind credit — especially as CUs compete with financial institutions (FIs) and FinTechs for lost share in credit products.

As research conducted between PYMNTS and PSCU indicates, over half of CU members polled have relationships with other providers of credit — and those providers are not their main credit unions.

“It’s a great opportunity for CUs,” Fagan said of rolling out new credit products.