Industry’s First Card-Locking Service Empowers Consumers to Proactively Block FraudstersPSCU Financial Services Launches New CardLock™ Service For Its Credit, Debit CardsSt. Petersburg, FL, August 17, 2009 – CardLock allows cardholders to exercise control over the authorization process for all transactions regardless of whether they are conducted in person, on the Internet or via phone. If the card is locked, any attempt to authorize a transaction will be declined and the cardholder will get a call from PSCU Financial Services’ fraud department alerting them about the attempted transaction. Reoccurring transactions set up with a merchant will be accepted even if the account is locked. “We lock our homes and cars to prevent or deter theft, and CardLock works the same way for credit and debit cards,” said Steve Ruwe, Chief Risk Officer, PSCU Financial Services. “Cardholders tell us this service gives them a sense of control and security that they have never had, and consumers who are wary of online shopping or identity theft appreciate the added confidence when using their cards.” PSCU Financial Services is the credit union industry’s leader in risk management. The cooperative offers advanced fraud detection and prevention measures, including its Falcon fraud detection system and 24/7 card monitoring by a specially trained security staff. The company’s credit and debit portfolios enjoy a $.041 fraud-to-sales ratio which compares favorably to the reported industry average fraud-to-sales ratio of $.065. “This new service was developed by our staff as an extension of our organization’s commitment to develop innovative solutions that protect our credit union members from fraud,” Ruwe added. “We are responding to the desire by consumers for enhanced fraud protection, as well as the industry’s need for higher security. Consumers who use this service are not assuming any added responsibility or liability for fraud.” CardLock can be used with all debit and credit cards issued by credit unions and processed by PSCU Financial Services. Cardholders can call a toll free number or visit the CardLock web site to lock or unlock their accounts in seconds. A simple four-digit key code selected by the user offers speed and convenience. Comprehensive marketing materials including web banners, posters, statement inserts, and other promotional items are available from PSCU Financial Services. About PSCU Finacial ServicesBased in St. Petersburg, Florida, PSCU Financial Services is the nation's largest credit union service organization (CUSO) and serves more than 1,300 financial institutions nationwide. As a non-profit cooperative, the company is owned by more than 600 member credit unions representing over 13 million accounts and 880,000 online bill payment subscribers. Its Contact Centers handle more than 16 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, electronic banking 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.
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