Credit Union groups PSCU and Co-op Solutions sign merger deal
By Gloria Methri
PSCU and Co-op Solutions, two credit union service organizations (CUSOs) and financial technology solutions providers have closed their agreement to combine.
Starting today, PSCU and Co-op will begin operational integration under a holding company led by a combined executive leadership team and board of managers, with Chuck Fagan, former president and CEO of PSCU, acting as CEO of the new organization.
A new brand for the combined organization, which will be known as PSCU/Co-op Solutions in the interim, will be announced in the coming months.
“Today marks the start of an exciting journey as we bring together two teams with similar values and cultures – both built on the foundation of the ‘people helping people’ credit union philosophy – to begin working collaboratively as associates of our new combined company,” said Fagan.
“Through this combination, we 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 center solutions and services, an ATM network, shared branching, collections and more – to help credit unions innovate and achieve their goals, while also providing increased scale, meaningful value, and additional growth opportunities. The future is bright for our combined company, we look forward to what’s ahead.”
With a full portfolio of solutions from PSCU and Co-op, the combined company aims to enable credit unions to evolve in the financial services market, adapt to innovation and meet the evolving preferences of the modern member, while also ensuring long-term financial stability and sustained growth.
IBSi Daily News Analysis
February 23, 2024
Regulated firms battle surge in financial crime attempts, research revealsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage