PSCU Signs Dozens of CUs to Reg E Service
PSCU Financial Services said 65 credit unions already have signed up for its Regulation E overdraft opt-in service.
Available to members and non-members of the big CUSO, the CUInitiative service uses PSCU's contact centers in Florida, Michigan and Arizona to offer four solutions aimed at quickly securing member opt-in authorization needed to comply with the Reg E deadlines of July 1 and Aug. 15.
"Our call center professionals help explain the new requirements to accountholders so that overdraft authorization can be obtained quickly and cost effectively," said Tom Gandre, group executive for PSCU Financial Services in St. Petersburg, Fla.
"Member-owners are taking advantage to preserve noninterest income and to protect member relationships through clear communication about this new regulation. We are also making this service available to all credit unions to help our industry maintain strong revenue and build greater market share," Gandre said.
Credit unions can choose from a series of activities that include customized digital messages, scripted outbound calls that show the credit union's name on caller ID or an IVR phone option that includes an introductory message and toll-free number for members to call to provide opt-in authorization. Credit unions also can get a toll-free number their members can call for FAQs about Reg E.
The 1,500-member CUSO said 15 credit unions already have gone live with the service and another 50 have committed.