PSCU Financial Services announced that it has exceeded 500,000 subscribers, and 2.6 million bill payments per month, for its PayLynx online bill payment service. As one of the credit union industry’s leading providers of this service, the cooperative was the first to offer FraudNet, a bill payment fraud detection and prevention tool and has developed innovative marketing materials that includes an online video designed to build consumer acceptance.
PayLynx also boasts a greater percentage of active subscribers and higher rates of acceptance for electronic bill payment by billers than other providers of the CheckFree service. It is also launching online bill payment for small businesses in January.
“We have added an impressive 100,000 subscribers over the past 12 months due to product enhancements, innovative marketing tools and our dedicated team of skilled advisors,” said David J. Serlo, President and CEO, PSCU Financial Services. “Our online bill payment solution addresses user needs with same day/next day payments, a single landing page with biller history and other time-saving features.”
“We value PSCU Financial Services’ input to our product development and enhancement process and its commitment to delivering the best payment solutions to the credit union industry. Our collaborative efforts have clearly led to tremendous growth in the cooperative’s subscriber base, and also resulted in bringing innovative solutions such as FraudNet to the market,” said Ted Chaney, Director of Relationship Management, CheckFree Corporation.
A dedicated team of advisors help credit unions identify growth opportunities and design campaigns to address the specific needs of each membership. These efforts generate excellent results, as noted in the cooperative’s record-setting activation rate.
The cooperative’s marketing tools include an online video in addition to traditional posters and other materials designed for use with newsletters, statements and the web site.
Washington State Employees Credit Union of Olympia, Wash., one of the first credit unions to launch PayLynx, has over 11,500 online bill paysubscribers and gained 1,400 new users during a two month period through recent promotional activities.
“PayLynx is an excellent product but we must attribute a significant amount of our success to the efforts of the cooperative’s PayLynx staff,” said Kristina Walters, the credit union’s Vice President of Marketing and Business Development. “These representatives have worked with our staff to develop targeted promotions and design email campaigns that have posted 20-30 percent response rates. In short, the support has been phenomenal.”
About PSCU Financial Services
Based 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 470,000 online bill payment subscribers. Its Contact Center handles more than 12 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 the leader in the credit union industry, 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.