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CU System
PSCU Financial Services issues 45.4 M dividend
ST. PETERSBURG, Fla. (4/14/09)--PSCU Financial Services issued $45.4 million to its member credit unions--the largest dividend ever paid by any credit union service organization, PSCU Financial said. Member-owner credit unions received 85% of the dividend in cash. The distribution included cash dividends of $35 million from the sale of Visa and MasterCard stock. Financial savings of $12.6 million also were passed along throughout 2008, PSCU Financial said. PSCU Financial reported 2008 revenue of $633 million--an increase of 12% over 2007. “The difficult economy can be the perfect storm for our industry,” said David J. Serlo, PSCU president/CEO. “It’s time for credit unions to expand programs and offer new services that drive members to make their credit union their primary financial institution.” PSCU Financial Services provides credit, debit, ATM, prepaid, bill payment, home and mobile banking, lending, collections and contact center solutions.


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