MY CU Services takes ownership of PCSi payment services

July 6, 2015

MIDDLETOWN, Pa., and COLUMBIA, S.C. (7/6/15)--Two credit union service organizations (CUSOs) announced Friday the transfer of ownership of PCSimages (PCSi) to MY CU Services.

MY CU Services is a CUSO under Mid-Atlantic Corporate FCU’s umbrella of companies. Palmetto Cooperative Services, Cooperative Services Inc. (CSI) and Credit Union Partnership Inc. own PSCi, which specializes in payment processing services.

This alliance extends MY CU Services’ offerings and payment processing to more than 1,400 credit unions throughout the United States and Canada. Services include payment processing, information technology, bill payment, cash services, core processing and consulting services.

Palmetto Cooperative Services and CSI--the majority owners of PCSi--will have ownership interests and board representation in MY CU Services. Middletown, Pa.-based Mid-Atlantic Corporate FCU will be the majority owner.

“For several years, we’ve talked about ways we could collaborate to gain efficiencies and reduce costs, so this union is a natural progression in our relationship,” said Drew Kishbaugh, president/CEO of MY CU Services, in a release. “By combining PCSi’s payment capabilities with ours, MY CU Services will be able to meet a greater range of client needs.”

Palmetto Cooperative Services President/CEO Brad Miller added: “The dynamic state of evolution in payments demands broad perspective and collaboration to ensure credit unions remain competitive and innovative in serving their members. This collaboration among CUSOs, corporates and league service corporations--and the resulting strategic alignment--help ensure that the credit unions we collectively serve will stay ahead of the curve.”