PSCU, the nation’s premier payments credit union service organization (CUSO), has announced its annual patronage dividend for the 2022 fiscal year of $16.1 million, with 30% being distributed in cash. As part of its commitment to helping Owner credit unions succeed and prosper, PSCU’s total cash distribution to Owners this year is $14.9 million, including $7.5 million in capital credits and $2.6 million in revolving funds. Since its founding, PSCU has distributed more than $637.6 million in patronage dividends, with nearly 55% paid in cash. “Following the completion of a successful Fiscal Year 2022, PSCU is proud to once again deliver a strong dividend to our Owner credit unions,” said Chuck Fagan, president and CEO of PSCU. “PSCU remains a very healthy cooperative and we are firmly committed to providing an optimal balance of ongoing investments in innovation and a strong dividend program for our Owner credit unions. We are confident that PSCU is well-positioned to help credit unions provide an optimal member experience through our end-to-end portfolio of products, solutions and services, while the additional liquidity provided through our dividend program continues to help our credit unions achieve their strategic and operational goals.” Highlights from PSCU’s Fiscal Year 2022 year include:
Owners benefit from PSCU’s investments by sharing in the financial returns that are distributed through the company’s annual dividend. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 45 years The Annual Meeting of PSCU’s Owner credit unions will be held virtually on Wednesday, March 29, 2023, at 4:00 p.m. EDT. Additional details for PSCU Owners are forthcoming.
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Author: Mike LawsonMarried to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Archives
May 2024
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