University of Wisconsin Credit Union Moves Credit Card Processing to PSCU Financial Services

Access to Versatile Tools, Exceptional Fraud Management Spurred the Move

St. Petersburg, FL, Aug. 11, 2008 – University of Wisconsin (UW) Credit Union, of Madison, Wis., has signed an agreement to move its credit card processing to PSCU Financial Services, the nation’s largest credit union service organization (CUSO). Conversion of the credit union’s 48,000 credit accounts will take place in October, and members will have access to the cooperative’s 24/7 award-winning Contact Center services. UW Credit Union has 117,000 members and $1.1 billion in assets and is the second largest credit union in the state.

“We are impressed with the way PSCU Financial Services serves its member-owners and aligns itself with our shared goal of providing high-quality solutions that attract new members and build loyalty. In addition, we look forward to a more fully featured credit solution that delivers versatile tools along with consultative expertise to help our staff launch an ongoing marketing campaign,” said David Mickelson, Director of Retail Operations, UW Credit Union.

He also noted that the staff appreciates the cooperative’s industry leading fraud management program that evaluates credit, debit and online bill payment transactions and identifies potentially fraudulent transactions so they can often be stopped before they are processed.

The cooperative’s success is validated by its fraud loss to sales ratio of just 4.2 —which is 30 percent lower than the current rate for all MasterCard and Visa issuers of 6.3 cents of net fraud per $100 of total sales volume. This difference represents tens of millions of dollars of fraud that was prevented before it happened.

“We look forward to working with the UW Credit Union’s staff to help energize their credit platform while protecting their members against the risk of fraud,” said David J. Serlo, President and CEO, PSCU Financial Services. “The credit union’s management team conducted a thorough analysis in evaluating providers, and we are delighted that UW Credit Union is joining PSCU Financial Services. We have a long track record of helping credit unions implement best practices and continual promotional campaigns that generate impressive results and enhance member satisfaction.”

About University of Wisconsin Credit Union

UW Credit Union is a growing, federally insured financial institution that provides customized financial products and services to meet the money management goals of its members. It was founded in 1931 by university faculty who believed that the not-for-profit cooperative business model would best serve the unique needs of its community.
Throughout UW Credit Union’s 75-year history, its products, services, network of branch offices and technology systems have expanded in response to member needs. The credit union has grown steadily and currently has more than 117,000 members and 14 full-service branches in Wisconsin. The credit union provides on-site financial services to members in the university communities of Madison and surrounding areas of Milwaukee, Whitewater, Green Bay and Stevens Point. Assets today total $1.1 billion, making it one of the largest credit unions in Wisconsin.

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 650,000 online bill payment subscribers. Its Contact Center handles more than 14 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 a leader in the credit union movement, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit PSCU Financial Services’ website at www.pscufs.com.

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