By W.B. King
Providing forward-leaning services to its 101,000 members was the driving force behind AMOCO Federal Credit Union’s recent adoption of a new credit card processing solution.
“We want to enhance the member digital experience,” AMOCO Federal Credit Union Executive Vice President of Operations Darby McDermott told Finopotamus. Vetting a number of providers, the 1.3 billion Texas City, Texas -based credit union, which supports 11 branches, eventually selected PSCU.
“Their [PSCU] emphasis is on service to the members,” noted McDermott. “Their culture aligned with our culture — putting member service as a top priority.”
Scott Wagner, executive vice president and chief revenue officer at the St. Petersburg, Fla.-based PSCU, a credit service organization (CUSO), said that credit unions generally reach out for a host of reasons. These include implementing automated, efficient tools to deliver a seamless service experience.
“PSCU’s ongoing investments have enabled us to transform from an aggregator to an integrated financial technology solutions provider,” Wagner told Finopotamus. “Our unique culture understands credit unions’ needs, while our market-leading solutions empower credit union growth.”
The Partnership Onboarding Process
Beginning in September 2023, McDermott said AMOCO Federal Credit Union will officially begin “working PSCU to advance our credit union’s best-in-class products and member
service.” From contract to rollout, he added the process will take roughly 10 months.
“PSCU currently has integration with our core, loan origination system (LOS) and home banking platform,” he noted. “From that perspective, it has removed complications. It will still require extensive testing prior to conversion.”
Testing, he added, will include a “mock conversion” as the process “does not lend itself to beta-type testing.”
Wagner said that roll out timing “varies and differs across financial institutions.” This is based, in part, on a “number of factors, needs and expectations, all of which are discussed as a part of the partnership onboarding process.”
Understanding Integration
When asked what advice McDermott had for other credit unions looking at a similar solution, he told Finopotamus that in order to best understand integration, executives should “do their homework,” including investigating all existing providers and processors.
“Align your credit union with a partner that shares your same values. Understand this business relationship will last for many years,” he shared. “It is important to have confidence that your new partner will work with you on issues that inevitably come up over the years.”
