Visions - January 2008Click a headline below to view articles:
2008 Credit Union Cherry Blossom Run Benefits Our Industry, Children’s Miracle NetworkIt’s time to think of spring—
specifically the Credit Union Cherry PSCU Financial Services is asking credit unions to give generously to local children’s hospitals by donating to this event. Donations are tracked according to donor zip codes, so local hospitals will benefit from the contributions of each credit union and its members. In 2007, the run raised over $500,000 for hospitals in 19 states. The goal this year is to raise $1 million for hospitals in all 50 states through increased contributions from credit unions nationwide. PSCU Financial Services assumed the role of lead partner for the event, to help ensure that race costs are minimized so that every donation can be credited directly to the Children’s Miracle Network. The cooperative works with Credit Union Miracle Day, Inc., to support the event. “We are a long-time contributor to Children’s Miracle Network and we want to encourage credit unions across the country to donate to CMN through this event,” said David J. Serlo, President and CEO, PSCU Financial Services. “We are making it easy for our member-owner credit unions to contribute by donating a portion of their interchange income.” Serlo adds that the annual run showcases the cooperative spirit within the credit union industry and the desire to give back to the Credit unions and members can begin making donations immediately at www.miracleday.org. Credit unions can also choose to donate a portion of their interchange income by calling 800-932-7728. Connect 2 Gen Ywww.ProjectNewAge.com is a learning center for the “dos and don’ts” of marketing to Gen Y. The site provides information on this generation’s unique lifestyles, media consumption habits and brand and media preferences. The website’s design reflects Gen Y preferences with its fun, youthful layout and blogging function. The ProjectNewAge.com blog will be updated several times per month with new information regarding Gen Y social media, new Gen Y blogs to visit, and Web 2.0 marketing conferences. Getting to know Gen Y is only a mouse click away. PSCU Financial Services and Digital DialogueThe Power of Two – Delivering Total Member Care™Digital Dialogue is a leading provider of services for credit unions and supports over 170 credit unions from their two operations centers in Michigan. The company also develops new technology and applications to help credit unions increase their operational efficiency, reduce expenses, and grow their revenue. PSCU Financial Services acquired Digital Dialogue in early 2007. Digital Dialogue specializes in providing 24/7 member service, in addition to lending services, new member enrollment, product cross-selling, and shared branching support to help credit unions enhance member satisfaction levels and grow their businesses.
In addition to being able to obtain high demand, high quality financial services from a single trusted partner, credit unions benefit from the combined scale of our two organizations in the form of affordable pricing. Please contact Howard Hoemann at hhoemann@digital-dialogue.com for more details on how Digital Dialogue’s product suite can help your credit union realize its full growth potential. And plan on meeting the folks from Digital Dialogue at our Member Forum in 2008! Zero to Ten in Thirty Days — Debit Direct Mail Campaign Garners 6.7% ReturnDebit Direct Mail Campaign Garners 6.7% Return
Boasting a record–setting 6.7% response, PSCU Financial Services’ highly successful Debit Activation/Usage campaign lived up to expectations to build transaction and interchange volume and set the stage for future promotional efforts. Forty credit unions participated in a two-month direct mail campaign targeting low usage debit cardholders. The goal was to increase cardholder activity to 10 or more transactions each month using CURewards™ points or cash as the fulfillment options. PSCU Financial Services underwrote the costs for the campaign, providing the concept,
“More than 330,000 transactions were generated by the target group of low to no usage debit cardholders,” said Ron Silvia, Director of Debit Services, PSCU Financial Services. “We are extremely pleased with the results and are excited about our 2008 line up of marketing promotions.” ATM Only Cards ObsoleteIncrease Revenue Potential with Debit Mass IssuanceFor decades, ATM cards have provided a way for members to get cash any time, day or night. However, the needs of both credit unions and their members have evolved. The original ATM only card is now obsolete – replaced by a debit card that provides cash, balance transfers, loan payments, and deposits, plus purchasing power at POS sites, as well as by phone and via the Internet. PSCU Financial Services works with debit issuers to identify ways to increase revenue and minimize expenses. Close scrutiny of the credit union’s debit/ATM portfolio mix is one area of opportunity. Many have taken advantage of PSCU Financial Services’ Debit Mass Issuance campaigns to eliminate ATM only cards. Top24/7 Live Monitoring Blocks $200,000 In Online Bill Pay FraudPreventing fraud requires 24 by 7 vigilance, expertise and the latest technology. Last year PSCU Financial Services enhanced its PayLynx™ online bill payment system with FraudNet, a state-of-the-art automated fraud detection and prevention tool. The system works, and works well. In 2007, FraudNet is credited with preventing $200,000 in online bill pay fraud. Every online bill payment flows through FraudNet prior to being processed, allowing potentially fraudulent transactions to be identified and stopped before they are sent to the biller. A broad range of metrics are used to identify suspicious payments, including the identity of the user’s computer and the IP address, geographical location, the biller’s information and prior transaction behaviors. In addition, PSCU Financial Services experienced fraud representatives will review all fraud alerts. The reps may place calls to an individual bill payment subscriber to validate a payment or other information. If a payment is determined to be fraudulent, the representative will cancel the payment and may deactivate the bill pay account if warranted by the investigation. “Our company is committed to the highest levels of security management,” said David Serlo, President, PSCU Financial Services. “FraudNet is one of the tools in our expansive arsenal that allows credit unions to offer online bill payment with confidence.” PayLynx, powered by CheckFree®, is used by more than 560,000 subscribers nationwide, generating over 2.7
million bill payments per month. PayLynx users were the first in the credit union industry to benefit from FraudNet’s
powerful technology. There is no monthly usage fee TopCredit Unions Represented on PCI Security Standards CouncilPSCU Financial Services has joined the PCI Security The PCI DSS, endorsed by American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa Inc., requires merchants and service providers that store, process or transmit customer payment card data to By joining the PCI Council, the credit union-owned
cooperative is adding its voice to the process. “The PCI Security Standards Council is committed to “Our company, which was certified as PCI compliant in early 2007, is fully in support of the PCI Security Standard Council’s agenda to ensure data integrity. We are eager to represent the credit union industry by working with other financial services providers to protect consumer data,” said David J. Serlo, President and CEO, PSCU Financial Services. TopContinuing to Evolve!Accessing data keeps getting easier. Three new functions (New Account Entry, Account Transfer and New Company Records) have recently been added to Evolve, our efficient graphical user interface (GUI), front-end application that enables users to access cardholder data on the FDR system. With Evolve, users can customize features to meet their organization’s needs.
With these new features, there’s no better time than now to Evolve. Contact your Account Executive to learn how your organization can benefit from Evolve. TopOffer Members a Way to ‘Go Green’ Through Online Bill PaymentIn addition to convenience, online bill payment subscribers like to ‘go green’ with this environmentally friendly service. According to a 2007 Consumer Bill Payment Survey sponsored by CheckFree®, 52 percent of e-bill users said that one of the top reasons they chose to receive e-bills was that “receiving bills in electronic form saves paper and energy, helping our nation’s environment.” Paying bills online reduces the need for checks, envelopes and stamps, and the need to transport paper bills to complete transactions. Many consumers also receive statements and bills electronically, which can eliminate paper entirely from the consumer billing process. Langley Federal Credit Union (Newport News, Va.) partnered with PSCU Financial Services in August to promote the ecological advantages of the PayLynx™ online bill payment service, which it now offers free to its members. In the first three months with the new service, online subscribers grew more than 100 percent, from 2,998 to 6,802 subscribers. In addition, the credit union achieved a high activation rate of 75 percent. “We were able to sign up more users in the first week than we had during the entire year with our previous provider by effectively promoting the favorable environmental impact of converting to online bill payment and offering the service at no charge,” said Brett Noll, Senior Vice President and Chief Marketing Officer, Langley Federal Credit Union. “We are extremely pleased to offer a product that simplifies members’ lives and also helps reduce fuel consumption and pollutants. Members clearly value and appreciate the product and its positive impact on the environment.” The credit union has over 160,000 members and $1.2 billion in assets. PSCU Financial Services encourages credit unions to promote online bill payment and is developing a turnkey Going Green Marketing Top |
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Blossom Ten Mile Run on Sunday, April 6, 2008. This event is important in several ways: it spotlights the unique contributions of the credit union industry on Capitol Hill and
it also benefits Children’s Miracle
Network’s 170 children’s hospitals. 
