PSCU Financial Services Highlights Successful Debit PromotionsTennessee Credit Union Boasts 74% Active Accounts, 24 Average Transactions/MonthSt. Petersburg, FL, May 29, 2008 – Credit unions across the country achieved dramatic debit transaction growth after participating in an innovative activation campaign designed by PSCU Financial Services, the nation’s largest credit union service organization (CUSO). The cooperative’s goal is to assist credit unions in growing their debit card portfolios and interchange income through an ongoing series of targeted penetration, activation and usage marketing campaigns.One of the participants in the cooperative’s debit promotions, Y-12 Federal Credit Union, Oak Ridge, Tenn., boosted its active accounts from 60% in March 2007 to 74% in March 2008. The credit union also boosted the average number of debit transactions from 22.9 to 24.4 for all cardholders during the same time period. “We have been extremely pleased with the results of the debit promotions. In the fall campaign, we had more than 450 accounts go from completely inactive to an average of 24 transactions a month. We have found that once cardholders make your debit card their primary choice, activity and transaction volumes remain high,” said John Stegner, Vice President and CFO, Y-12 Federal Credit Union. To illustrate the lasting effects of its marketing efforts, Stegner pointed out that the credit union had 566,000 debit transactions in March 2008, surpassing its December 2007 transaction total of 554,000, which was the highest to date. “It’s obvious the cardholders who began using our debit card in the fall of 2007 continue to make it their primary choice,” he said. The fall campaign offered CURewards points or cash to qualified cardholders making 10 debit purchase transactions during the tracking period. Y-12 Federal Credit Union is also participating in a spring debit promotion that targets accounts that post less than 10 transactions a month. Cardholders with at least 15 transactions receive a $10 prepaid gas card. Other credit unions that are promoting their debit cards are also seeing excellent results. As a result of its member-owners’ activation campaigns, PSCU Financial Services topped 500 million transactions in 2007, a 117% growth over 2003 transaction volume. PSCU Financial Services has a dedicated debit product and marketing team that focuses on helping member-owners stimulate growth within the debit portfolio. “Credit unions need to remain actively engaged in marketing their debit portfolios in order to participate fully in the expansion of debit card use. Our cooperative’s debit campaigns help credit unions achieve best-in-class benchmarks for penetration, activation and usage,” said Gina Pask, Manager of Debit Program Management and Development, PSCU Financial Services. 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 500 member credit unions representing over 11 million cardholder accounts and more than 580,000 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, Mich., 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. For more information, visit the company's Web site at www.pscufs.com.
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