PSCU Financial Services will send over $21 million back to participating credit unions this year on transactions the credit unions conducted in 2010, the giant payments CUSO announced.
"We are exceptionally pleased with the success of the progressive activities spearheaded by our management team in 2010. We reduced service billings and issued an invoice rebate at the end of the year–a move that resulted in $6.5 million in savings for our members. We also trimmed $10 million in operational costs, which will continue to provide improved efficiencies and savings for years to come," said Craig Esrael, President of First South Financial, Bartlett, Tenn., and Chairman of PSCU Financial Services' board of directors.
"This $21.3 million dividend payout augments net income for our member-owners and also equips them to fund activities to gain members and market share in the coming year," he added.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
