David Serlo, longtime CEO of PSCU Financial Services and that organization's first employee, has died of cancer, sources close to the CUSO have told Credit Union Times.

Serlo began with the organization in 1983 and led the group through its controversial move to the First Data card platform from then Telecredit (which eventually became FIS), and through a later expansion which saw the payments CUSO break out from card payments to online banking, telephone service centers and mobile banking. At last count, the CUSO was owned by at least 640 credit unions representing over 14 million credit and debit card accounts.

Serlo began his career in 1970 when he joined the NCUA as an examiner until he took the position with then Payment Systems for Credit Unions. Serlo has served as chairman of the board of NACUSO and as a member of Visa's Card Operation Risk Executive Council. He also served on the board of Credit Union Miracle Day, Inc., the title sponsor of the Credit Union Cherry Blossom 10-Mile Run, a premier national credit union event that champions the credit union difference nationwide. He has been recognized throughout the industry and was awarded the 2008 Ernst & Young Florida Entrepreneur of the Year Award along with the Distinguished Alumni Award from Indiana University of Pennsylvania.