PSCU, a US-based credit union service organization, has agreed to acquire the credit and debit card processing and servicing business of Indiana Credit Union League (ICUL), for an undisclosed sum.
The deal brings 109 credit unions processing roughly 286,000 cards to PSCU.
Both the Indiana league’s Credit Union Card Center and PSCU process their card transactions on First Data Corps’ card platform.
ICUL president said John McKenzie said, "The League’s focus on supporting credit union success is in complete alignment with PSCU."
"Our goal was to select the best long-term solution for the card processing needs of our credit union clients and PSCU is a proven technology partner that can help credit unions expand the scope of services provided and grow their payment programs."
PSCU president and CEO Michael J Kelly commented, "Both PSCU and ICUL believe leveraging card, analytics, mobile and social channels will help credit unions nurture and grow their business and ultimately be the most relevant financial services provider choice for members."
The Indiana Credit Union League operates as a statewide trade association for credit unions in Indiana.