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PSCU Financial Services issues 24.1 million in dividends
ST. PETERSBURG, Fla. (4/16/08)--PSCU Financial Services, a credit union service organization (CUSO), will issue $24.1 million in dividends to its member-owners for 2007, the company announced Monday. This is the fourth year the dividend exceeds $20 million. The dividend also includes $5.1 million in MasterCard dividends that were issued to credit unions that process MasterCard transactions through the CUSO. The dividends result from stock redemptions by MasterCard. PSCU will pay $12.05 million, or 50% of the 2007 dividend in cash. The remaining amount will be paid at a later date. The CUSO also reported 2007 revenue of $565 million--an 11% increase over 2006. The increased revenue was due to a 17% increase in transactions. More than $19.6 million in savings also were passed in 2007 to members. PSCU serves more than 1,100 credit unions.


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