St. Petersburg, FL, June 26 – David J. Serlo, President and CEO of PSCU Financial Services, died Friday, June 25, from complications caused by cancer. He was 63. Serlo had been on medical leave since the fall of 2009 but continued to be accessible to company executives. He is survived by his wife, Tina, and his children, Adam, Mark and Katie. 

After almost 40 years in the credit union industry, Serlo is revered for his noble standards of conduct and his lifetime of leadership and innovation within the credit union movement. He was a pioneer in promoting the philosophy that credit unions should be served by organizations devoted to their unique principles and values. He helped to create CUSOs and other companies that equip individual credit unions—and the industry as a whole—to compete with much larger financial services providers.

The Board of Directors will continue their oversight of the company and will spearhead the search for a new company president, according to Board Chairman Craig Esrael, President of First South Credit Union, Bartlett, Tenn. "PSCU Financial Services is positioned for continued growth using the Serlo stylebook that has long been embraced by the leaders of this company. His visionary contributions to this industry will impact credit unions and their members for decades to come. Even more importantly, Dave will always be remembered for his exemplary moral character and the altruistic example he set for doing the right thing for employees, credit unions and business partners," said Esrael.  

Earlier this year, the Board of Directors named Mike Yatros as Interim CEO and formalized a management team of Group Executives that includes Chuck Fagan, Tom Gandre and Steve Salzer.  

Serlo began his career as a NCUA examiner. After spending 13 years learning the credit union business, Serlo became passionate about the credit union movement. In 1983, he became the first full-time employee of Payment Systems for Credit Unions, ultimately evolving that company to PSCU Financial Services, the nation’s largest CUSO. The cooperative now provides services to over 1,500 financial institutions and has more than 1,700 employees. 

Serlo served on the Board of Directors of NACUSO, Credit Union Miracle Day, Inc., and numerous advisory councils of the industry. He was a member of Visa’s Card Operations Risk Executive Council and funded important industry research through his commitment to Filene Research Institute—an industry think tank on credit union trends. He spearheaded the role of PSCU Financial Services as the lead corporate sponsor of the Credit Union Cherry Blossom Run^®, a Washington, D.C., based event that brings national attention to the role of America’s credit unions. He has been recognized by his peers for leadership in the credit union industry and was recently awarded the Ernst & Young Florida Entrepreneur of the Year Award for the accomplishments he fostered at PSCU Financial Services. A graduate of Indiana University of Pennsylvania, Serlo was recently designated with their prestigious Distinguished Alumni Award. 

Serlo was also well known for his generosity and patriotism. He actively supported numerous charitable foundations, including Children’s Miracle Network, the American Red Cross and other organizations that serve the underprivileged. He also led support for patriotic organizations such as Colonial Williamsburg that educate future generations about the unique requirements and responsibilities of our democratic system. He believed U.S. corporate leaders need to support organizations and activities that nurture the American entrepreneurial spirit.   

Funeral services will be held in Tampa, Fla. Details will be posted on the company website (www.pscufs.com) when they are made public. 

About PSCU Financial Services

Based in St. Petersburg, Florida, PSCU Financial Services is the nation's largest credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. As a non-profit cooperative, the company is owned by more than 640 member credit unions representing over 14 million accounts and 1 million online bill payment subscribers. Its Contact Centers handle more than 17.4 million inquiries a year. 

PSCU Financial Services offers 24/7 member support through four Contact Centers: its Eastern operations center in St. Petersburg, Fla.; a Western operations center based in

Phoenix, Ariz.; and two call centers in Detroit, Mich. These Contact Centers perform member servicing and new member acquisition, cross-selling and automated lending solutions as well as support for debit/credit/prepaid cardholders and online bill payment subscribers. 

Established in 1977, the company provides a broad array of cost-effective, high quality financial services that include credit, debit, ATM, prepaid, bill payment and contact center solutions. PSCU Financial Services uniquely offers its members a full range of processing options, any combination from full service to in-house pass through processing for credit, debit and ATM transactions. As a leader in the credit union movement, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit PSCU Financial Services’ website at www.pscufs.com.