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News

PSCU and Co-op Solutions close deal to combine

Wednesday 3 January 2024 15:40 CET | News

PSCU and Co-op Solutions have announced closing their deal to combine, approved by Owners and shareholders of both credit union service organisations. 

Per the official press release, PSCU and Co-op will begin operational integration under a holding company led by a combined Executive Leadership Team and previously announced Board of Managers.  

A new brand for the combined organisation will be announced in the coming months and will be known as PSCU/Co-op Solutions in the interim. 

Officials from the companies stated that this marks the start of an important journey as it brings together two teams with similar values and cultures to begin working collaboratively as associates of the new combined company.

PSCU and Co-op Solutions have announced closing their deal to combine, approved by Owners and shareholders of both credit union service organisations.

Through this combination, the companies are establishing an enhanced, end-to-end product portfolio, ranging from access to instant payments and data analytics, digital banking, fraud and risk management, contact centre solutions and services, an ATM network, shared branching, collections and more. This is intended to help credit unions innovate and achieve their goals, while also providing increased scale, and additional growth opportunities. 

More information on the collaboration 

In November 2023, PSCU and Co-op Solutions first announced their agreement to combine their products to develop a fintech services provider for credit unions. Following this announcement, the companies would work to combine their suite of services and products, aiming to optimise how they meet the needs, preferences, and demands of their customers and credit unions by providing them with improved technology and solutions, increased scale, and differentiated values.  

In addition, the firms would focus on fostering long-term development and sustainability for the overall credit union movement.  

About PSCU  

PSCU, a credit union service organisation and an integrated financial technology solutions provider, supports more than 2,400 financial institutions and processes more than eight billion transactions annually.  

PSCU’s payment processing, fraud and risk management, data and analytics, digital banking, strategic consulting and real-time payments platforms, along with 24/7/365-member support via its contact centres, help deliver personalised, connected experiences. the company also provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands.  

About Co-op Solutions 

Co-op Solutions is a credit union-owned financial technology platform built using an ecosystem, whose mission is to connect credit unions to the technology, strategic partnership and scale they need to best serve their members and grow now and into the future. Co-op Solutions services 2,650 credit union clients, processes eight billion transactions annually, and manages a nationwide ATM network of more than 30,000 and a 5,700-location shared branch network. 

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Keywords: partnership, banking, credit access, financial services, payment processing
Categories: Banking & Fintech
Companies: Co-op Solutions, PSCU
Countries: United States
This article is part of category

Banking & Fintech

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Co-op Solutions

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PSCU

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