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  • Writer's pictureKelsie Papenhausen

PSCU Announces Annual Dividend for Fiscal Year 2023


St. Petersburg, Fla. (Dec. 14, 2023) — PSCU, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, has announced a $31.0 million annual patronage dividend for the 2023 fiscal year, with a cash distribution of 30%. As part of its commitment to helping Owner credit unions succeed and prosper, PSCU’s total cash distribution to Owners this year is $19.4 million, including $7.6 million in capital credits and $2.5 million in revolving funds. Since its founding, PSCU has issued more than $668.6 million in patronage dividends, with more than 55% distributed in cash. 


“PSCU is proud to once again deliver an outstanding dividend to our Owner credit unions – a 93% year-over-year increase – while maintaining a record level of capital spend that continues to grow,” said Chuck Fagan, president and CEO of PSCU. “PSCU remains a financially healthy cooperative, with a firm commitment to delivering both ongoing investments in innovation and strong returns for our Owners. As we look to the future, we are confident that the transformative combination of PSCU and Co-op Solutions will create the premier fintech solutions provider for credit unions, providing an unparalleled portfolio of solutions and services that will further fuel growth and accelerate innovation for our Owners.”


On Nov. 6, PSCU and Co-op Solutions announced an agreement to combine. The companies will continue to operate as two independent companies until the close of the transaction, which is expected to be completed by the end of December 2023 following the successful vote of both organizations’ Owner/shareholder bases, as well as other customary closing conditions. 


Highlights from PSCU’s Fiscal Year 2023 year include:


  • Continued Financial Strength: PSCU achieved record revenue of $871.0 million in Fiscal Year 2023, outpacing the industry with a 16% consolidated year-over-year growth rate.

  • An Award-Winning Culture: Earlier this year, PSCU earned national and global recognition for supporting a highly engaged team of employees. The company was ranked in the top 40 overall and recognized as a top-five employer in the Banking and Financial Services industry on the Forbes list of America’s Best Midsize Employers, and was one of just 57 companies globally to receive the 2023 Gallup Exceptional Workplace Award, which recognizes the most engaged workplace cultures in the world.

  • FedNow® Service: Juniper Payments, a PSCU company, was among the first service providers supporting transaction activity for financial institutions on the FedNow Service launched in July, reflecting PSCU’s commitment to providing instant payments to our Owners on an accelerated timeline.

  • Growth of Lumin Digital: As the company further enables digital experiences, it continues to invest in and empower the capabilities of its best-in-class, cloud-native digital banking company, Lumin Digital. Forty-eight financial institutions are now live on the Lumin platform, with an additional seven signed on and more than four million users under contract.

  • Enhancing Our Service Model: Using direct feedback from its Owner credit unions, PSCU successfully launched an enhanced service model in 2023 that included a reimagined service support approach, greater self-service opportunities and improved Service Portal features.

  • Fighting Fraud: PSCU saved its credit unions more than $650 million in potential fraud dollars in FY23 through industry-leading fraud-fighting tools and capabilities, including its proprietary Linked Analysis technology and expanded Enhanced Fraud Services (EFS) offering.

  • Navigating U.S. Payment Card Interchange: As interchange remained a hot topic across the industry over the last year, PSCU continued to work with its industry partners, including Visa, the Electronic Payments Coalition (EPC), CUNA, NAFCU and others to help credit unions navigate potential legislation, educate their members and engage with policymakers.

  • Thought Leadership: PSCU also continued to provide its credit unions, and the industry, with thought leadership to help make informed, strategic decisions. Over the last year, this included the release of PSCU’s sixth annual Eye on Payments study, the continued success of its monthly PSCU Payments Index and the debut of the new PSCUTV video series, which offers a fast-paced way to engage with relevant industry topics.


PSCU Owners benefit from the company’s investments by sharing the financial returns distributed through the company’s annual dividend. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 45 years.

About PSCU

PSCU, the nation’s premier payments CUSO and an integrated financial technology solutions provider, supports the success of more than 2,400 financial institutions and processes more than eight billion transactions annually. Committed to service excellence and focused on continuous innovation, PSCU’s payment processing, fraud and risk management, data and analytics, digital banking, strategic consulting and real-time payments platforms, along with 24/7/365-member support via its contact centers, help deliver personalized, connected experiences. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 45 years. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit



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