Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
PSCU Financial Services helps CUs on overdraft opt-in
ST. PETERSBURG, Fla. (3/30/10)--PSCU Financial Services launched a new Reg E-Overdraft Opt-In service with CUInitiative that provides member contact options to help credit unions obtain the required overdraft opt-in from members. Credit unions are required to obtain the opt-ins to comply with a new overdraft regulation, Regulation E, effective July 1. The service is available to any credit union. CUInitiative aims to help gain maximum enrollment from members for services cost effectively. “Our new service will help credit unions comply with the new amendments that require opt-in authorization from each share draft member before charging an overdraft fee caused by a one-time debit transaction or ATM withdrawal,” said David J. Serlo, president, PSCU Financial Services. “We offer member contact options that help explain the new requirements to accountholders and obtain overdraft authorization.” Credit unions can select activities from options including: a customized digital message that gives instructions for overdraft protection; a scripted outbound call from a Total Member Care professional that shows the credit union name on caller ID; and an interactive voice response with an introductory message and toll-free number that allows members to provide opt-in authorization. PSCU Financial Services also can provide credit unions with a toll-free number their members can call for answers to frequently asked questions about the new overdraft requirement. PSCU Financial services, a credit union service organization, is based in St. Petersburg, Fla.


RSS print
News Now LiveWire
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
9 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
11 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
11 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
11 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
12 hours ago