ST. PETERSBURG, Fla. — PSCU Financial Services, the CUSO that processes card transactions for over 500 credit unions using the First Data card platform, will issue its highest patronage dividend on record this year, according to the cooperative.
A release from the cooperative did not specify how big the dividend would be, but said that it expects it to top last year's $23 million dividend.
In addition, the cooperative said it would get some of the patronage money flowing back to member credit unions immediately in the form of cuts to their fees for credit and debit transactions in the months of November and December and for the use of the cooperative's PayLynx online bill payment service. The cooperative will also repay some of its revolving fund certificates, which normally would fall due in March 2007, in December of this year.
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