ST., PETERSBURG, Fla. -- PSCU Financial Services has increased its commitment to the Filene Research Institute.
The commitment increased the amount of money PSCU will donate to Filene from the $250,000 already distributed over the last three years by an additional $250,000 spread over the next three.
"PSCU Financial Services has raised awareness of the aging of credit union members and the immediate need to focus on the next generation. Their leadership and financial support has been the catalyst that has launched five major research projects into the needs of adults under the age of 30, and the development of successful business models that credit unions can use to serve these young adults," said Mark C. Meyer, Filene's incoming executive director/CEO.
"Since PSCU Financial Services became involved in this effort, other credit union industry organizations have followed their lead by making contributions and by supporting our research and innovation efforts."
Meyer explained that the PSCU funding into how CUs can work with and attract younger members is crucial for credit union's future since borrowing and thus interest income generally drops as credit union members age.
"We believe the knowledge gained from this long-term partnership with Filene Institute will have a lasting effect on the industry for decades to come," said David Serlo, president, PSCU Financial Services. "It is our desire wherever possible to help fund efforts that benefit the industry as a whole and to support the collection and distribution of information that assist credit unions in making strategic decisions that assure success for many years to come."