Payments credit union service organization (CUSO) PSCU has expanded its relationship with SAFE Federal Credit Union to offer debit processing support as well as credit processing.
Based in Sumter, South Carolina, and founded in 1955, SAFE has $1.6 billion in assets and 133,000 members in seven counties. The credit union (CU) has worked with PSCU for the last seven years, the organizations said in a news release emailed to PYMNTS Tuesday (Oct. 4).
“Our decision to choose PSCU for debit services was based on our current relationship, as well as recommendations from other credit unions that have had an excellent experience with the CUSO,” said Mandy Baibak, SAFE’s vice president for electronic services.
“Everything we do at SAFE is driven by the best interests of our members, and it is clear PSCU understands the meaning of the ‘people helping people’ credit union philosophy and the importance of true service.”
See also: PSCU Expands Partnership With ValleyStar to Provide Debit Processing
The release said PSCU will begin providing debit processing services and support to SAFE members in March 2023.
The news comes two weeks after PSCU announced the expansion of a partnership with ValleyStar Credit Union, also to provide debit processing. This year has seen PSCU expand its relationships with Arrha Credit Union, CHROME Federal Credit Union and North Jersey Federal Credit Union (NJFCU) as they began offering debit processing services.
Read more: Short-Term Crypto Uncertainty is Long-Term Credit Union Opportunity
Last week, PYMNTS spoke to Scott Young, vice president of innovation and design at PSCU, about the importance of CU’s staying up to date on the world of cryptocurrency.
“I don’t want credit unions to feel that this market downturn is permission to do nothing,” he said. “Quite to the contrary. I think this is truly the long game and not the short game — digital assets and blockchain technology, those use cases are going to continue to evolve. And we’re just starting to see companies now really start experimenting with these use cases and testing out the interest level of consumers.”
One crucial factor to remember when assessing that interest level, Young said, is that 23% of respondents in PYMNTS’ April study on the U.S. Crypto Consumer said they have owned crypto in the previous 12 months, and “a large portion after that are crypto-curious.”