Mike Kelly and PSCU, a leading nationwide payment CUSO, have parted ways, effective immediately, the CUSO said in an announcement Monday morning.

Tom Gandre, COO of the St. Petersburg, Fla.-based PSCU, will take the helm temporarily while the organization launches a search for someone to take the position, according to the CUSO.

"Our board has every confidence in Tom's leadership, our executive team and our world-class employees," Mike Valentine, chair of PSCU's board of directors, said. "PSCU will continue to focus on creating new core payment products and services that deliver efficiency and enhanced capabilities to our member credit unions."