Tech Credit Union (Tech CU) has tapped PSCU to provide debit card processing support.
The 11-branch, Indiana-based credit union selected the credit union service organization (CUSO) based on its experience, trustworthiness, understanding of the industry and service excellence, according to a Thursday (March 9) press release.
“As a CUSO, PSCU’s deep understanding of credit unions and dedication to providing best-in-class member service and experiences make them an ideal partner,” Tech CU CEO and President Gene Novello said in the release. “Through this partnership with PSCU, Tech CU will offer industry-leading card services that will enhance the member experience and further our mission to empower our members to reach their financial goals.”
PYMNTS research has found that the competitive pressures are increasing for credit unions because their members are seeking ever more innovative products.
In fact, 64% of all credit union members want their primary financial institutions to offer more payment capabilities, and 79% are willing to go as far as to switch where they bank to find more innovative products, according to “Credit Union Innovation: Product Development Slowdown Tests Member Loyalty,” a PYMNTS and PSCU collaboration.
The report also found that because of members’ increased discernment — and willingness to jump ship — credit unions should target their limited resources at innovations members will see and appreciate.
Leaning into digital innovation will be more critical than ever for financial institutions in 2023, PSCU President and CEO Chuck Fagan wrote in the PYMNTS eBook, “2023 Payments New Year’s Resolutions.”
“By effectively leveraging the right tools, data and partnerships, financial institutions can enable connected experiences specific to consumers’ individual needs, which builds loyalty,” Fagan wrote.
When launching its review process, Tech CU sought to access robust card processing services, innovative card solutions and a seamless, convenient experience for its members, according to the press release.
The credit union’s members will begin receiving card processing support from PSCU in July, the release said.
“Tech CU’s dedication to serving local communities and improving the financial lives of members closely mirrors PSCU’s own values,” PSCU Senior Vice President and Chief Sales Officer Chris Gunnare said in the release. “We are honored to have the opportunity to provide highly functional, reliable and secure card processing support to Tech CU and its valued members.”