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PSCU Financial Services renews First Data processing deal

09 July 2007  |  1807 views  |  0 Source: First Data

First Data (NYSE: FDC), a global leader in electronic commerce and payments, has signed a long-term contract extension with PSCU Financial Services, the nation's largest credit union service organization (CUSO).

PSCU Financial Services has more than 500 member-owner credit unions that represent over 11 million debit and credit cardholder accounts.

Under the agreement, First Data will provide an extensive suite of credit and debit products to PSCU Financial Services and its member-owners, including debit and credit processing, ATM driving, fraud prevention services, plastics and statement production, data analytics and PIN-secured debit access via the STAR Network. First Data has provided credit and debit card processing for PSCU since 1989.

"We're committed to helping each of our member-owner credit unions better serve their membership. We offer robust products with competitive pricing from a single technology provider, a provider who not only understands our unique business needs, but who is also a strategic partner. First Data has been that partner for more than 15 years, and we're pleased to extend that relationship," said David J. Serlo, president of PSCU Financial Services. "Working with First Data allows us to help our credit unions across the country successfully manage and grow their portfolios while protecting themselves and their members with cutting-edge fraud products."

"We're investing in the product and service innovations that can help market-leading clients like PSCU Financial Services compete on a whole new level," said David Bailis, president of First Data Financial Institution Services. "First Data offers unique value to PSCU Financial Services thanks to the breadth and scale of our business. This includes new products that can help increase card activation and usage through more effective cardholder communication, tools to manage risk and minimize the impact of fraud, or technologies that introduce new payment methods and help extend their members' rapidly growing debit business."

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