October 17, 2011 06:17 PM Eastern Daylight Time Nation’s Leading Credit Union Servicing Provider Urges Consumers to Take a Stand
Credit Unions Are the David in the Goliath Battle
SAINT PETERSBURG, Fla.--(BUSINESS WIRE)--The public outcry against the big banks adding fees for debit accounts and debit card transactions speaks volumes. Credit unions are the answer to consumers aggressively searching for less restrictions and fair fees.
“Credit unions are the way for consumers to take a stand. They are the natural answer.”
“Consumers shouldn’t be bullied into accepting charges for using their own money,” said Michael Kelly, president and CEO of PSCU Financial Services®. “Credit unions are the way for consumers to take a stand. They are the natural answer.”
In big banks, decisions are driven by executives trying to deliver for their shareholders. In the credit union model, members are the shareholders. As nonprofits, their members directly reap the benefits of a more efficient business approach. In many instances, that results in no fees for checking or debit accounts.
“As banks respond to regulations imposed upon them, many plan to recoup lost income by squeezing the consumer,” said Kelly. “Credit unions allow consumers to keep more of their own money, especially in these tough economic times. Consumers have the choice – pay the fees or move your business.”
PSCU Financial Services is the nation’s leading credit union service organization (CUSO) and serves more than 1,000 credit unions nationwide. The company provides transaction processing for millions of credit union cardholders.
America's credit unions were formed to serve a broad spectrum of people with banking services. Nearly 7,000 credit unions nationwide serve local communities or a defined constituency. They keep cost low and often pay higher interest for savings. Today, they have become even more relevant as they continually resist adding substantive fees for most regular banking services.
Kelly urges consumers to visit www.asmarterchoice.org or www.culookup.com to learn how to join a credit union in their community.
About PSCU Financial Services
Based in St. Petersburg, PSCU Financial Services is the nation’s leading largest credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. As a nonprofit cooperative, the company is owned by member credit unions representing 16 million credit, debit, prepaid, online bill payment and electronic banking accounts. Its Contact Centers handle more than 18 million inquiries a year.
For more information, visit PSCU Financial Services’ website at www.pscufs.com.
