CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » Fagan: We are in the people-helping-people business
Operations

Fagan: We are in the people-helping-people business

PSCU president/CEO provides an update on the company's initiatives.

April 3, 2019
Ron Jooss
No Comments
Chuck Fagan

Chuck Fagan, president/CEO of PSCU, provided an update on the credit union service organization’s leading initiatives during his opening remarks at the PSCU Member Forum in Austin, Texas, Wednesday.

Among the updates:

► Lumin Digital. PSCU formed Lumin Digital, a cloud-based digital platform, in April 2018. The first implementation of the platform will go live this spring.

“In one year, we feel we’ve redefined the digital banking experience for the member,” Fagan says. “It helps expand member engagement and creates a personalized journey for the member.”

► CU Recovery. PSCU acquired CU Recovery, a full-service collections agency, in February 2018. The acquisition allowed PSCU to expand from 30-, 60-, and 90-day credit card collections to all loan types.

“The fully integrated collections experience into PSCU is significant because it allows us to align a risk management strategy with you and ease the burden of collections,” Fagan says. “We’re maintaining and expanding our staff, so it’s taking hold.”

► Jack Henry and First Data partnership. In May 2017, PSCU partnered with Jack Henry and First Data through a credit and debit card processing agreement.

Fagan says the agreement has helped PSCU to onboard more than 3.5 million accounts, in comparison with 1 million accounts in a typical year previously. During one weekend in February alone, PSCU onboardeded 1.2 million accounts.

“We feel we are on the No. 1 processing system in the world, and you see that in a numeric sense,” Fagan says. “It allows us to reinvest further on our solutions development, focused on collaboration, which benefits the long-term success of you, our owners.”

► Fraud solutions. Through its continued investment in fraud prevention tools, PSCU stopped $210 million in potential fraud for its members in 2018 by blocking fraud at the point-of-sale, in the call center, and online, Fagan says.

► Advisors Plus. The PSCU team helps credit unions build and manage their credit card portfolios. Credit unions that work with Advisors Plus have 5.9 times balance growth and 1.5 times transactions growth, Fagan says. “The whole idea is if you grow smart, we grow,” he says.

Based on this success, Fagan expects PSCU will achieve 13% to 14% revenue growth in 2020. That will allow PSCU to make further investments, build scale, and create internal efficiencies.

“We’re in the people-helping-people business, and we won’t lose sight of that,” he says.

PSCU is a CUNA associate business member at the premier level.

Post a comment to this article

Report Abusive Comment

Credit Union Magazine: Winter 2022

Winter 2022

Credit Union Magazine’s Winter 2022 issue highlights data-driven marketing, the board’s role in cybersecurity, elder abuse scams, credit unions’ auto lending advantage, and more.
Digital Edition •  Subscribe

Trending

  • House passes CUNA, League-led board modernization bill

  • CFPB issues CUNA-opposed proposal on credit card late fees

  • Key committee leaders supportive of credit union priorities

Tweets by CUNA_News

Polls

Vote for the 2023 CU Hero of the Year

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us