PSCU headquarters in St. Petersburg, Fla.
Credit/PSCU
The two largest payments CUSOs in the credit union industry have announced plans to join the two organizations together. The announcement Monday stated the St. Petersburg, Fla.-based PSCU and Rancho Cucamonga, Calif.-based Co-op Solutions entered into an agreement to combine.
"Together, the companies will be better positioned to provide credit unions with innovative technology, unparalleled services, increased scale and differentiated value, fostering long-term success and sustainability for the credit union movement," the statement read.
According to details of the merger, PSCU President/CEO Chuck Fagan will take over the new combined organization and its headquarters will be PSCU's headquarters in St. Petersburg.
"This is a transformative opportunity for both PSCU and Co-op," Fagan said. "Our member-owned companies have been respected industry assets for more than 40 years, and now is the right time for this combination, which we believe will create the premier fintech solutions provider for credit unions and make our combined organization an even stronger resource for the credit union ecosystem. We are excited to bring together our talented employees, complementary solutions, key partnerships and extensive client relationships – all under our shared commitment to the 'people helping people' credit union philosophy – to fuel growth and accelerate innovation for credit unions."
Officials with PSCU and Co-op Solutions will hold a virtual press conference later today. CU Times will provide more details of the merger soon.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
