CFCU Community Credit Union Converts Credit Accounts to PSCU Financial Services

New York Credit Union Sites Flexible Rates, Marketing Expertise

St. Petersburg, FL (June 23, 2008) – CFCU Community Credit Union of Ithaca, N.Y., has signed an agreement to convert its 11,000 credit accounts to PSCU Financial Services, the nation’s largest credit union service organization. The credit union has $522 million in assets and 56,000 members. 

Credit union executives report PSCU Financial Services’ credit platform was attractive because of its strong feature set and the marketing expertise offered by the cooperative. “This cost-effective platform offers rate flexibility to facilitate promotional activities and the cooperative also offers experienced marketing professionals who can help us expand our base of cardholders and activation and usage levels,” said Robert O. Witty, CEO, CFCU Community Credit Union.

Witty added that the credit union also benefits from being a shareholder in a credit-union-centric organization that continuously develops and designs new solutions to promote growth and success for its member-owners.

“Credit unions of all sizes are attracted to our credit platform because of the flexibility of the system and products like balance consolidation and credit balance refunds that can improve staff productivity and reduce training time,” said David J. Serlo, President and CEO, PSCU Financial Services. “In addition, we provide a user-friendly interface that allows credit union staffs to update credit card accounts in real-time using a familiar web browser-based environment.”

The cooperative’s credit program also offers credit line increases, balance consolidation solutions, transaction level processing and other promotions that build member satisfaction and loyalty. AdvisorsPlus™ specialists can help design successful promotions that increase outstanding balances and activation/usage rates while portfolio management services deliver automatic flexible and dynamic pricing and other portfolio-boosting solutions.

About CFCU Community Credit Union

The credit union opened its doors in 1953 to serve the employees of Cornell University. In 2003, it converted to a community charter to serve anyone who lives, works, attends school or maintains a business in Tompkins or Cortland Counties of New York. Today, with nine locations, more than 56,000 members and assets totaling $522 million, CFCU Community Credit Union is one of the largest and most successful credit unions in the state of New York. The 2007 fiscal year was the most successful year in its history. CFCU set records in loan growth, deposit growth, asset growth, dividends paid to members and net earnings. It is also the leading residential mortgage lender in the Ithaca, N.Y., market. For more information, visit www.mycfcu.com.

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 1,100 financial institutions nationwide. As a non-profit cooperative, the company is owned by more than 500 member credit unions representing over 11 million cardholder accounts and more than 615,000 online bill payment subscribers. Its Contact Center handles more than 14 million inquiries a year. PSCU Financial Services maintains an Eastern operations center in St. Petersburg, Florida, and a Western operations center based in Phoenix, Arizona. The cooperative’s wholly owned subsidiary, Digital Dialogue, operates two 24/7 call centers in Detroit, Michigan that specialize in member services, new member acquisition, cross-selling and automated lending solutions.

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.

PSCU Financial Services debit program is rapidly expanding. It topped 500 million transactions in 2007, a 117% growth over 2003 transaction volume. Debit account growth is up 66 percent for credit unions who process debit through the cooperative, from 4.1 million accounts in 2003 to 6.9 million at the end of 2007. For more information, visit PSCU Financial Services’ website at www.pscufs.com.

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