PSCU has expanded its reach in Hawaii with three credit union (CU) partnerships, the credit union service organization (CUSO) announced Tuesday (April 6) in a press release emailed to PYMNTS.
Pearl Hawaii Federal Credit Union joins the CUSO as a new owner, and Honolulu Federal Credit Union (HOCU) and HFS Federal Credit Union (HFS) have expanded their existing partnerships with PSCU, according to the release.
PSUC will now provide all three CUs with credit and debit processing services, the release stated. HOCU already partnered with PSCU on its credit processing services.
“The addition of debit support services will not only strengthen our card portfolio performance, but it will also provide a higher level of member service as our cards program will all be with one processor,” said HOCU CEO Mark Munemitsu in the release.
HOCU, headquartered in Honolulu, holds over $302 million in assets. PSCU will begin providing debit processing to HOCU’s over 18,000 members in the fourth quarter of 2021, the release stated.
HFS and Pearl Hawaii are each adding both debit and credit processing services with their PSCU partnerships, according to the release.
PSCU will begin offering credit processing services to the 52,000 members of HFS in July, and debit processing services in July of the following year. HFS, based in Hilo, holds over $708 million held in assets, the release stated.
Pearl Hawaii, headquartered in Waipahu, has $428 million in assets. It will begin offering PSCU’s credit and debit processing services to its 30,000 members this fall, according to the release.
“PSCU is extremely proud to continue to grow our owner base in Hawaii through these existing and new partnerships,” said Scott Wagner, executive vice president and chief revenue officer at PSCU, in the release.
PSCU has embraced digitization and modernization — for itself, its CU owners and their members — a must to remain competitive, especially when reaching younger customers. As PSCU Chief Financial Officer Brian Caldarelli told PYMNTS this month, “you’re either at the table, or you’re on the menu.”
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