BECU Outsources Credit Card Collections to PSCU Financial Services

Cooperative Offers Scalable, Flexible Collections Solution

St. Petersburg, FL, July 13, 2009 – BECU of Tukwila, Wash., has contracted with PSCU Financial Services to perform early stage collections for its credit card portfolio of 184,000 accounts. The credit union outsourced collections to the cooperative to enhance its current solution with more scale and flexibility to support long-term portfolio growth in credit cards and other consumer loans.

“We are already one of the largest credit unions in the country and we are continuing to experience significant growth. The decision to outsource was a proactive one: PSCU Financial Services’ CUCollect solution offers advanced technology and dialer capability that can help us control costs and maintain a strong return on assets for our growing credit card portfolio,” said Scott Strand, Senior Vice President, BECU. “They understand the credit union philosophy and our desire to ensure that we are doing everything we can to help our members through a difficult time. We are also eager to expand our relationship with this trusted partner, whose strategic advice has helped us achieve robust growth in our credit card program.”

The CUCollect solution combines scale, technology and best practices to help credit unions control costs, increase efficiencies and maintain profitability of credit card assets. PSCU Financial Services currently conducts 450,000 outbound calls each month to service delinquent credit card accounts.

“Since we already handle BECU’s credit card processing, adding collections is an excellent fit,” said David. J. Serlo, President, PCSU Financial Services. “We have worked closely with this credit union for years and look forward to continuing our collaborative relationship.”

Year to date 20 additional credit unions have subscribed to PSCU Financial Services collection solutions. Several implemented CUCollect, a turnkey solution that leverages skilled collection staff, extended calling hours, technologies, and skip tracing capabilities. Others have opted for the FastCure solution that greatly enhances the productivity of the credit union’s in-house collection staff and allows the credit union staff to perform the member communication.

About BECU

With more than 600,000 members and more than $8.7 billion in assets, BECU is the largest credit union in Washington and one of the top five financial cooperatives in the country. The company can be found online at www.becu.org.

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 1,300 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, 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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