Baxter Credit Union Signs 10-Year Agreement for Debit, Credit, Online Bill Payment with PSCU Financial ServicesCredit Union to Convert PIN Debit Accounts to Achieve Single-Source SolutionSt. Petersburg, FL, Feb. 23, 2009 – Baxter Credit Union (BCU) of Vernon Hills, Ill., signed a 10-year agreement with PSCU Financial Services for single-source processing of signature and PIN debit, as well as credit card processing. The agreement involves 117,000 PIN debit accounts, 81,000 signature debit accounts, 50,000 credit accounts and 13,000 online bill payment subscribers. BCU has $1.6 billion in assets and 142,000 members. PSCU Financial Services, the nation’s largest CUSO, currently services BCU’s signature debit and credit accounts, and the credit union will convert its PIN debit accounts as part of this agreement. Executives at the credit union report that they were interested in developing a single-source partnership with the cooperative. “After working with PSCU Financial Services for almost a decade, they are a trusted provider that has demonstrated their ability to help us build successful debit, credit and online bill payment platforms,” said Michael G. Valentine, President and CEO, Baxter Credit Union. “The cooperative’s AdvisorsPlus team has worked closely with our staff to design credit and debit promotions, optimize ATM network usage and structure checking account options for maximum profitability.” “This 10-year agreement represents a strong vote of confidence in our ability to provide industry-leading technology and advisory services that help BCU expand their already successful programs,” said David J. Serlo, President and CEO, PSCU Financial Services. “Our team looks forward to working with their staff to find exciting new ways to attract and serve their membership in the coming decade.” The credit union will also achieve cost savings through the cooperative’s relationship pricing model that offers discounts based on the number of platforms it services. PSCU Financial Services’ debit business is experiencing dramatic growth. In 2008, the cooperative signed contracts to convert 1.1 million PIN debit accounts from 34 credit unions. About Baxter Credit UnionWith over $1.6 billion in assets, BCU currently serves more than 142,000 members throughout the United States and Puerto Rico. Formed in 1981 and headquartered in Vernon Hills, Illinois, BCU is a not-for-profit, member-owned credit union known for competitive rates, low fees, and state-of-the-art services. Membership is open to several prestigious companies around the country, as well as anyone who lives or works in the Illinois counties of McHenry, Lake, DuPage, Kane, Cook (north of Rte. 58) and the village of Schaumburg. Call 1-800-388-7000 or visit www.BCU.org for more information.About PSCU Financial ServicesBased in St. Petersburg, Florida, PSCU Financial Services is the nation's largest credit union service organization (CUSO) and serves more than 1,100 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 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 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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