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Velera Fraud Buzz

Velera Quarterly Update

Velera Partners with Kinective to Accelerate Innovation and Time-to-Market for Financial Software Products

MAXX24: Velera and Credit Unions for Kids Announce 'Miracle Momentum Awards'

Velera Selects Arroweye Solutions for Dual Interface Debit and Credit Card Portfolio

Demystifying Open Banking with Velera's Vlad Jovanovic

Velera Payments Report Shows Increases in Debit Spending and a Rise in Credit Card Balances

ACUM Honors 2024 Herstory Inductees

Leveraging Data for Strategic Decisions and CX in Banking

The Keys to Building a Sustainable Culture During an Integration

The Psychology of Payments: Engaging Members and Driving Growth

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News & Events

St. Petersburg, Fla. (Dec. 18, 2024) –&nbsp;<a href="https://www.velera.com/">Velera</a> – formerly&nbsp;PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – today announced its partnership with&nbsp;<a href="https://theknoble.com/">The Knoble</a>, a global alliance dedicated to disrupting human crime.&nbsp;Comprising financial services professionals, law enforcement, regulators and non-governmental organizations (NGOs), partners of The Knoble and its network aim to lead and innovate more effective ways to fight human crime. The Knoble’s mission is to harness the collective power of these groups and unite them in a shared commitment to combat human trafficking, child exploitation, financial scams, elder abuse and other forms of exploitation that leave individuals vulnerable and at risk of personal or financial harm.Financial institutions are on the frontlines of a majority of human crimes, making them uniquely positioned to stop crime at the source. By employing a three-pronged approach, The Knoble works with financial services partners to:<ul style="list-style-type:disc;"><li style="text-align:justify;">Increase awareness of these crimes</li><li style="text-align:justify;">Awaken others to the opportunity to access greater insight through financial clues and learn how to leverage these clues to fight human crime</li><li style="text-align:justify;">Collaborate across disciplines to innovate new solutions and processes that can be shared across the entire ecosystem</li></ul>Professionals from more than 565 financial institutions have joined forces with The Knoble in an effort to uncover the hidden clues of these crimes that may lie within financial transaction processes.“We are pleased to have Velera join us in our efforts to suppress human crimes and, more specifically, financial scams, given the CUSO’s expertise,” said The Knoble Director of Partnerships Ken Goins. “Our central belief is that human crime has a money trail, and we cannot afford to ignore it. With the support and resources of strong financial industry partners like Velera, we are confident we can better follow that trail and stop human crime at the source.”Velera’s collaboration with The Knoble is just one of the many ways in which the company is working to identify, prevent and ultimately stop fraudulent activities. Velera has built an industry-leading suite of fraud management tools to block fraud at the point of sale, in the contact center and online, among other channels. Through its partnership with The Knoble, Velera will better enable credit unions to recognize and prevent scams, one of the top precursors to card fraud. Access to educational materials will also aid credit unions in managing reputational risk and compliance concerns.&nbsp;“Velera is grateful to The Knoble for establishing this unique alliance of organizations in a united effort to fight human crime, and we look forward to contributing as a member of this vital network,” said Velera Vice President of Risk Engagement Nicole Reyes. “Financial crimes and related scams are among the most significant issues our credit unions and their members are facing. Velera is dedicated to doing everything within its power to prevent and combat these crimes, and our new partnership with The Knoble – and the hundreds of other participating financial institutions – will further strengthen our ability to do that.”The partnership between The Knoble and Velera comes as overall fraud has reached an all-time high. According to the&nbsp;<a href="https://www.ftc.gov/news-events/news/press-releases/2024/02/nationwide-fraud-losses-top-10-billion-2023-ftc-steps-efforts-protect-public">Federal Trade Commission</a>, consumers reported losing $10 billion to fraud in 2023, setting a new record and increasing by nearly 15% over 2022.&nbsp;About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="https://www.velera.com/">velera.com</a>.&nbsp;About The KnobleThe Knoble is a nonprofit organization dedicated to fighting human crime by collaborating with professionals from financial services, law enforcement, and NGOs to combat human trafficking, financial scams, elder financial exploitation, and child sexual exploitation. Through its member network and strategic initiatives, The Knoble works to protect people from exploitation. Learn more at&nbsp;<a href="https://theknoble.com/">TheKnoble.com</a>.

Velera Joins Forces with The Knoble in Effort  to Combat Human Crime

Awards demonstrate the impact of credit unions in their local communitiesSt. Petersburg, Fla. (Dec. 16, 2024) –&nbsp;<a href="https://www.velera.com/">Velera</a> – formerly&nbsp;PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – today announced the winning hospitals of the Miracle Momentum Awards. Introduced in October 2024 as a part of Velera’s longstanding partnership with CU4Kids, the program called on credit unions throughout the country to nominate their local Children’s Miracle Network (CMN) hospital to receive a $10,000 donation. Velera received nearly 500 nominations from over 225 credit unions for nearly 70 hospitals.This year’s winning hospitals, located across 18 states are:<ul style="list-style-type:disc;"><li style="text-align:justify;">Akron Children's Hospital (Ohio)</li><li style="text-align:justify;">Baylor Scott &amp; White McLane Children's Medical Center (Texas)</li><li style="text-align:justify;">Boston’s Children’s Hospital (Massachusetts)&nbsp;</li><li style="text-align:justify;">Children's Hospital Los Angeles (California)</li><li style="text-align:justify;">Children's Hospital of Georgia (Georgia)</li><li style="text-align:justify;">Children's Hospital of The King's Daughters (Virginia)</li><li style="text-align:justify;">Children’s Nebraska (Nebraska)</li><li style="text-align:justify;">CHRISTUS Ochsner Southwest Louisiana (Louisiana)</li><li style="text-align:justify;">Cook Children's Medical Center (Texas)</li><li style="text-align:justify;">Corewell Health Children’s Hospital (Michigan)</li><li style="text-align:justify;">Kapi'olani Medical Center for Women &amp; Children (Hawaii)</li><li style="text-align:justify;">MaineHealth Barbara Bush Children's Hospital (Maine)</li><li style="text-align:justify;">Monroe Carell Jr. Children's Hospital at Vanderbilt (Tennessee)&nbsp;</li><li style="text-align:justify;">MultiCare Yakima Memorial Hospital (Washington)</li><li style="text-align:justify;">Phoenix Children’s Hospital (Arizona)</li><li style="text-align:justify;">Salinas Valley Health Medical Center (California)&nbsp;</li><li style="text-align:justify;">Sanford Children's Hospital – Fargo (North Dakota)</li><li style="text-align:justify;">UF Health Shands Children's Hospital (Florida)</li><li style="text-align:justify;">Upstate Golisano Children's Hospital (New York)</li><li style="text-align:justify;">WVU Medicine Children's Hospital (West Virginia)&nbsp;</li></ul>“After launching Velera’s Miracle Momentum Awards just two months ago, we were overjoyed by the overwhelming response and positive feedback we received for this new program,” said Velera President and CEO Chuck Fagan. “It is an absolute honor, together with our credit unions and CU4Kids, to recognize and provide support to Children’s Miracle Network Hospitals across the U.S. this holiday season. We congratulate all of the winners and appreciate the critical care that all Children’s Miracle Network hospitals provide in our communities throughout the country.”Velera’s Miracle Momentum Awards program carries on the company’s proud, productive history of support for CU4Kids and CMN Hospitals, from serving as a lead sponsor of the Credit Union Cherry Blossom Ten Mile Run for more than 20 years to most recently serving as a presenting sponsor of the second annual In The Cellar event, which raised more than $1.1 million for CMN Hospitals. The Miracle Momentum Awards are an extension of the Miracle Match program, a philanthropic program introduced by Co-op Solutions (now Velera) that encouraged credit unions, leagues and chapters to create and participate in fundraisers for their local CMN Hospitals.&nbsp;Much like the credit union industry, CMN Hospitals models a people-centric structure by raising funds to provide member hospitals what they need most, including critical life-saving treatments and healthcare services, innovative research, vital pediatric medical equipment and more. Credit Unions for Kids (CU4Kids), a program benefiting CMN Hospitals, has raised over $200 million since its inception in 1996. The program has enabled 150 children’s hospitals throughout the United States to provide advanced care, equipment and research to more than 12 million children each year.&nbsp;About Credit Unions for KidsCredit Unions for Kids (CU4Kids), benefiting Children’s Miracle Network Hospitals® (CMN Hospitals) in collaboration with Credit Union National Association (CUNA) and was adopted as a movement and charity of choice. Credit unions with their chapters, leagues, associations, and business partners throughout the U.S. donate to CU4Kids benefiting local children’s hospitals through CMN Hospitals. Whether contributing through ATM contributions, events or making direct donations to CU4Kids, credit unions are raising funds to help children’s hospitals provide the best possible care for kids, providing financial, educational, and emotional support for families fostering economic stability. Together, we can change kids’ health. Together, we can change the future. To learn about CU4Kids, visit&nbsp;<a href="https://CU4Kids.org">CU4Kids.org</a>.About CMN HospitalsChildren’s Miracle Network Hospitals® raises funds for 170 children’s hospitals that support the health of 10 million kids each year across the U.S. and Canada. Donations go to local hospitals to fund critical life-saving treatments and healthcare services, along with innovative research, vital pediatric medical equipment, child life services that put kids’ and families’ minds at ease during difficult hospital stays and financial assistance for families who could not otherwise afford these health services. When we improve the health of all children and allow them the opportunity to reach their full potential, we also improve our communities for years to come. Together, we can change kids’ health. Together, we can change the future. To learn about Children’s Miracle Network Hospitals and your local children’s hospital, visit&nbsp;<a href="https://cmnhospitals.org/">cmnhospitals.org</a>.About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="https://www.velera.com/">velera.com</a>.

Velera Announces Winners of Miracle Momentum Awards in Support of Children’s Miracle Network Hospitals

St. Petersburg, Fla. (Dec. 10, 2024) –&nbsp;<a href="https://www.velera.com/">Velera</a> – formerly&nbsp;PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – has announced the theme and keynote speakers for VeleraLIVE 2025, to be held April 14-16 in Denver at the Gaylord Rockies Resort &amp; Convention Center.This year marks the first year for VeleraLIVE, which will serve as the company’s new combined annual conference. The theme for the event, “Velocity for a New Era,” takes inspiration from the company’s name, reflecting the CUSO’s unique ability to drive velocity and positive momentum for credit union success in a new era of financial services and evolving consumer preferences. VeleraLIVE 2025 will bring together credit union professionals, industry partners and key stakeholders in the financial services industry to advance credit union growth now and into the future. Programming will feature dynamic keynotes, breakout sessions, the Solution Showcase, networking and more. &nbsp;“As we approach the one-year anniversary of the combination, we are looking forward to hosting our inaugural VeleraLIVE, which will be focused on driving ‘Velocity for a New Era’ on behalf of our credit unions and their members,” said Velera EVP, Chief Service Officer Dean Young. “We are particularly excited to announce our lineup of events and keynote speakers including a legendary athlete duo that teamed up to form a dynasty with the Dallas Cowboys – much like PSCU and Co-op Solutions have done to form an industry-leading company as Velera.”VeleraLIVE 2025 is scheduled to include:<ul style="list-style-type:disc;"><li style="text-align:justify;">CEO Keynote:&nbsp;President and CEO Chuck Fagan will share his perspective on Velera’s first year, along with what lies ahead for the company.</li><li style="text-align:justify;">Keynote: Erica Dhawan, an internationally recognized authority on 21st century teamwork and author of two bestselling books, will deliver “Master Change: Strategies for Success in a Dynamic World.”</li><li style="text-align:justify;">Closing Keynote:&nbsp;Dallas Cowboys legends and longtime teammates Troy Aikman and Emmitt Smith will team up once again to deliver the closing keynote address. Aikman is a Hall of Fame quarterback who played in the NFL for 12 seasons, all with the Dallas Cowboys.&nbsp;The No. 1 pick in the 1989 NFL Draft, he was named the MVP of Super Bowl XXVII and inducted to the Pro Football Hall of Fame in 2006. Smith is a Hall of Fame running back who played in the NFL for 15 seasons, 13 of which were with the Dallas Cowboys. A first-round pick in the 1990 NFL Draft, Smith went on to become an icon in professional football, earning Offensive Rookie of the Year honors in 1991, NFL MVP in 1993 and MVP of Super Bowl XXVIII before being inducted to the Pro Football Hall of Fame in 2010 and selected for the NFL 100 All-Time Team in 2019.</li><li style="text-align:justify;">Breakout Sessions:&nbsp;Gain valuable insights from Velera thought leaders and industry experts as they address a variety of timely topics, including instant payments, digital lending, data and analytics, open banking, card portfolio growth, fraud and more.</li><li style="text-align:justify;">The Solution Showcase:&nbsp;Explore Velera’s innovative product and solution portfolio firsthand through interactive demonstrations.&nbsp;</li></ul>Registration for VeleraLIVE 2025 is now open. “Early bird” registration is available until Feb. 14, and general registration is available through March 14. For more details or to register for, visit the&nbsp;<a href="https://web.cvent.com/event/d05eac89-252d-4a03-a39e-0026d281306a/websitePage:18a4262f-d222-41c0-b7c7-70aaf6121bd2?utm_source=pscu&amp;utm_medium=referral&amp;utm_campaign=veleralive-2025&amp;utm_content=news-and-events">VeleraLIVE 2025 event page</a>.&nbsp;About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="http://velera.com/">velera.com</a>.&nbsp;

Velera Announces “Velocity for a New Era” Theme  and Keynotes for VeleraLIVE 2025

St. Petersburg, Fla. (Dec. 5, 2024) –&nbsp;<a href="https://www.velera.com/">Velera</a> – formerly&nbsp;PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – is pleased to announce its expanded partnership with&nbsp;<a href="https://www.eccu.net/">Energy Capital Credit Union</a> (ECCU) to provide debit card processing services, alongside continued credit card processing support.Established in 1934 and headquartered in Houston, ECCU is dedicated to providing its members with the tools they need to realize their dreams – whether that is saving money, buying a home, purchasing a car or achieving another financial goal. Today, the credit union serves more than 19,000 members across six Texas counties and holds nearly $250 million in assets.While reviewing its card processing partners, ECCU was looking to identify ways to maximize vendor relationships and streamline processes for both members and employees. The credit union felt Velera was well positioned to continue as its credit card processing partner, while adding debit to enhance and elevate ECCU’s overall card services and support.&nbsp;“Whenever we are reviewing potential partners, Energy Capital Credit Union always prioritzes those that can help us meet or exceed our strategic goals, and we felt that Velera was the perfect partner to help us improve our debit and credit card processing services,” said DJ Contreras, vice president of Member Services at Energy Capital Credit Union. “By working with Velera, not only do we have accesss to additional features for our debit program – like contactless cards – but we are also working toward our ultimate goal of providing best-in-class member experiences and services, both in-branch and through our digital channels, as we look to the future of financial services.”Velera will begin providing debit card processing support for ECCU in July 2025.“Throughout our conversations with Energy Capital Credit Union, it was clear that they were only considering partners that could help them provide their members with elevated experiences and services, and we are proud to be the vendor they chose to achieve this,” said Velera EVP, Chief Growth Officer Brian Scott. “Velera looks forward to working alongside Energy Capital Credit Union in an expanded capacity to deliver the right mix of services and solutions to help the credit union not only meet, but exceed, its member expectations.”About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="https://www.velera.com/">velera.com</a>.&nbsp;

Energy Capital Credit Union Expands Partnership with Velera to Include Debit Card Processing

St. Petersburg, Fla. (Nov. 20, 2024) –&nbsp;<a href="https://www.velera.com/">Velera</a> – formerly&nbsp;PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – is pleased to announce its expanded partnership with&nbsp;<a href="https://www.kfcu.org/">Keesler Federal Credit Union</a> (Keesler Federal)&nbsp;to&nbsp;provide debit card processing and support.Based in Mississippi, Keesler Federal is one of the largest credit unions in the Southeast, serving over 327,000 members across 41 branches and holding more than $4.1 billion in assets. Established in 1947, Keesler Federal was founded on a vision for unity and the common good, building a cooperative financial partnership that would pool funds for the benefit of all members. More than seven decades later, that guiding vision remains.During its search for an ideal debit card processor, Keesler Federal sought out a collaborative partner that would truly understand the value of its members.“For over 40 years, Velera has served as an esteemed partner to our credit union and – by extension – our members,” said Keesler Federal Vice President of Consumer Lending Jim Freeland. “As we looked to consolidate our credit and debit card processing to one singular partner, our decades-long relationship with Velera, along with its innovative model that continues to meet the current and future needs of our members, made it a clear choice for this line of business.”Velera will begin providing debit card processing support to Keesler Federal in September 2025.&nbsp;“Keesler Federal is the type of organization we appreciate working with, as its mission and commitment to members does not waver, and has not for more than 75 years,” said Velera EVP, Chief Growth Officer Brian Scott. “At the same time, we share a mutual commitment to providing innovative solutions that meet the evolving needs of today’s credit union members. Velera looks forward to growing our relationship with the Keesler Federal team through the addition of debit card processing services, and we are grateful for their team’s continued trust in us as a longtime partner.”About Keesler FederalEstablished in 1947, Keesler Federal is the largest credit union headquartered in Mississippi with total assets exceeding $4 billion, more than 327,000 members and 41 locations throughout coastal and central Mississippi, greater New Orleans, Mobile, Ala., and the United Kingdom. As a not-for-profit financial cooperative, Keesler Federal is committed to building a stronger community, one member, one relationship, one financial solution at a time. Named by Newsweek as one of America’s Best Regional Banks and Credit Unions for 2024, Keesler Federal membership is available to people who live, work, worship or attend school within its service areas. For more information, visit kfcu.org and follow us on Facebook, Instagram, X (Twitter), and LinkedIn. About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="http://velera.com/">velera.com</a>.

Velera Expands Partnership with Keesler Federal Credit Union for Debit Card Processing

St. Petersburg, Fla. (Nov. 12, 2024) –&nbsp;<a href="https://www.velera.com/">Velera</a> – formerly&nbsp;PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider –&nbsp;today announced the appointment of Joan Opp, president and CEO of&nbsp;<a href="https://www.sfcu.org/">Stanford Federal Credit Union</a>, as a member of its Board of Directors. Opp replaces former Velera board member and previous president and CEO of Alliant Credit Union Dennis Devine.“Formerly Co-op Solutions’ board chair and currently a special advisor to the Velera Board of Directors, Joan has played an important role in helping guide our organization through the PSCU/Co-op Solutions combination and into our future as Velera,” said Chuck Fagan, president and CEO of Velera. “We are extremely pleased to welcome her as a member of the Velera board and are confident her skills and industry expertise will help us continue to deliver innovative solutions, services and support for our credit unions.”“Velera’s Board of Directors comprises CEOs from credit unions of various asset sizes and membership types, representing diverse regions across the country. These distinct perspectives play a crucial role in strengthening Velera’s overall offerings and capabilities,” said Frank Weidner, chair of the Velera Board of Directors and president and CEO of Wings Financial Credit Union. “On behalf of the board, we welcome Joan and look forward to continuing to work together to help position credit unions to achieve their objectives and compete in today’s evolving payments landscape.”Additional Velera Board of Directors members include:<ul><li>Christine Blake, president and CEO, Cardinal Credit Union, Ohio (Associate Director)</li><li>Jackie Buchanan, president and CEO, Genisys Credit Union, Mich.</li><li>Ezra Eckhardt, president and CEO, Spokane Teachers Credit Union, Wash.</li><li>Craig Esrael, president and CEO of First South Financial Credit Union, Tenn.</li><li>Todd Lane, president and CEO, California Coast Credit Union, Calif. (Associate Director)</li><li>Maria J. Martinez, president and CEO, Border Federal Credit Union, Texas (Associate Director)</li><li>Rudy Pereira, president and CEO, Premier America Credit Union, Calif.</li><li>Sean Rathjen, CEO of Consumers Credit Union, Ill.</li><li>Mark Robnett, president and CEO of Justice Federal Credit Union, Va.&nbsp;(Associate Director)</li><li>Andrew Rosen, president and CEO of Hawaii State Federal Credit Union, Hawaii</li><li>Chris Shockley, president and CEO of Virginia Credit Union, Va.</li><li>Amy Sink, CEO of Interra Credit Union, Ind.</li><li>Rob Stuart, president and CEO, OnPoint Community Credit Union, Ore.</li><li>Nathanael Tarwasokono, president and CEO of Allegacy Federal Credit Union, NC</li><li>Cathie Tierney, president and CEO of Community First Credit Union, Wis.</li></ul>About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="https://www.velera.com/">velera.com</a>.

Velera Appoints New Member to Board of Directors

St. Petersburg, Fla. (Oct. 30, 2024) –&nbsp;<a href="https://www.velera.com/">Velera</a> – formerly&nbsp;PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – today announced its partnership with&nbsp;<a href="https://www.raipartners.com/">RAI PARTNERS</a>.Established in 2021, RAI PARTNERS is a fintech CUSO dedicated to providing a suite of data-driven, AI-powered products for credit unions, community banks and companies interested in embedded fintech. Its mission is to strengthen the credit union ecosystem through data-driven products that unlock growth and engage members.“At RAI PARTNERS, we are committed to offering credit unions and financial institutions with access to user-centric fintech offerings to drive member engagement and satisfaction,” said RAI PARTNERS Co-Founder and CEO Ed Preuss. “We are proud to be working alongside Velera – an organization that holds similar values and goals – to advance credit union growth now and into the future.”Through this partnership, RAI PARTNERS will work with Velera to offer credit unions access to its offerings, including turn down programs and portfolio acquisitions:<ul style="list-style-type:disc;"><li style="text-align:justify;">RAI PARTNERS’ turn down programs help credit unions accept card applicants who would otherwise be declined. Running parallel to a credit union’s existing card program, RAI PARTNERS can provide the ability for credit unions to say “yes” to more members, increasing engagement and growing revenue.</li><li style="text-align:justify;">Through its portfolio acquisition suite, RAI PARTNERS works with credit unions to optimize and grow acquired credit card portfolios, enhancing products, technology, member engagement and, ultimately, overall income. This includes adding features and functionality, managing day-to-day activities and generating new data, insights and leads.</li></ul>“We are pleased to partner with RAI PARTNERS to extend our services and offerings into two spaces that we believe can truly elevate a credit union’s operations and garner success,” said Velera EVP, Chief Growth Officer Brian Scott. “This partnership is just one of many ways in which Velera is acting on its commitment to delivering our credit unions with the tools they need to build deep, lasting member relationships, while driving smart service and growth.”About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="http://www.velera.com">www.velera.com</a>.&nbsp;‍About RAI PARTNERS&nbsp;<a href="https://www.raipartners.com/">RAI PARTNERS</a>&nbsp;is a registered CUSO that offers data-driven, artificial intelligence solutions to credit unions, community banks, and forward-thinking businesses to expand their product suite using their all-in-one fintech platform. Since their founding in 2021, they’ve partnered with many financial institutions to drive their growth, customer engagement, and service capabilities, ultimately leading to increased profitability for their partners.

Velera Announces Partnership with RAI PARTNERS 

Through longstanding partnership with CU4Kids, awards will enable credit unions across the country to support their local CMN HospitalsSt. Petersburg, Fla. (Oct. 17, 2024) –&nbsp;<a href="https://www.velera.com/">Velera</a> – formerly&nbsp;PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – today announced the introduction of the Miracle Momentum Awards, in which credit unions throughout the country can nominate their local Children’s Miracle Network hospital to receive a $10,000 donation. Velera will donate up to 15 awards directly to the recipient hospitals in the name of the nominating credit union(s).&nbsp;“As we celebrate International Credit Union Day, we could not think of a better way to honor our industry than this exciting new awards program to support Children’s Miracle Network Hospitals – an organization that means&nbsp;so much to so many across the credit union movement,” said Chuck Fagan, President and CEO of Velera. “Both PSCU and Co-op Solutions, in partnership with CU4Kids, had a storied history of supporting&nbsp;the credit union industry and Children’s Miracle Network Hospitals (CMN Hospitals), and we look forward to furthering that support as Velera through our Miracle Momentum Awards. Together with our credit unions, we will help put families’ minds at ease during difficult hospital stays for their children, while providing financial assistance for families who could not otherwise afford these critical health services”Velera’s Miracle Momentum Awards carry on a proud, productive history of support for CU4Kids and CMN Hospitals throughout the United States. The company has served as a lead sponsor of the Credit Union Cherry Blossom Ten Mile Run for more than 20 years and recently served as a presenting sponsor of the second annual In The Cellar event, which raised more than $1.1 million for CMN Hospitals. In partnership with its credit unions and leagues, Velera supports a multitude of events in local communities throughout the year benefiting CU4Kids and CMN Hospitals.&nbsp;In 2008, Co-op Solutions introduced the Miracle Match program, a philanthropic program that encouraged credit unions, leagues and chapters to create and participate in fundraisers for their local CMN Hospitals. Through supplementing the donations raised with additional funds, the Miracle Match program successfully grew within the industry, promoting new and innovative ways of fundraising for CMN Hospitals. Now, as Velera, the company will continue to build on its strong relationship with CMN Hospitals through the Miracle Momentum Awards. Velera and CU4Kids invite any credit union to nominate their local CMN Hospital to receive a Miracle Momentum Award. To nominate a local CMN Hospital, go to&nbsp;<a href="http://www.cu4kids.org/miracle-momentum-awards">www.cu4kids.org/miracle-momentum-awards</a>. Deadline for nominations is November 30, 2024.“We are excited to continue our longstanding partnership with Velera to further help the credit union industry support Children’s Miracle Network Hospitals across the country,” said Nick Coleman, director of Strategic Partnerships at Children’s Miracle Network Hospitals. “When we improve the health of all children and allow them the opportunity to reach their full potential, we also improve our communities for years to come. Whether you’re contributing through ATM contributions, events or making a direct donation to CU4Kids, you are creating ripple effects felt in our community for years to come.”&nbsp;CMN Hospitals, much like the credit union industry, models a people-centric structure by raising funds to provide member hospitals what they need most, including critical life-saving treatments and healthcare services, innovative research, vital pediatric medical equipment and more.&nbsp;Credit Unions for Kids (CU4Kids), a program benefiting CMN Hospitals, has raised over $200 million since its inception in 1996. The program has enabled 150 children’s hospitals throughout the United States to provide advanced care, equipment and research to more than 12 million children each year. Each dollar that is raised through CU4Kids helps improve the health of kids, enabling children’s hospitals to provide the treatments and support patients desperately need today so they can fulfill their potential for tomorrow.About Credit Unions for Kids:&nbsp;Credit Unions for Kids (CU4Kids), benefiting Children’s Miracle Network Hospitals® (CMN Hospitals) in collaboration with Credit Union National Association (CUNA) and was adopted as a movement and charity of choice. Credit unions with their chapters, leagues, associations, and business partners throughout the U.S. donate to CU4Kids benefiting local children’s hospitals through CMN Hospitals. Whether contributing through ATM contributions, events or making direct donations to CU4Kids, credit unions are raising funds to help children’s hospitals provide the best possible care for kids, providing financial, educational, and emotional support for families fostering economic stability. Together, we can change kids’ health. Together, we can change the future. To learn about CU4Kids, visit&nbsp;<a href="http://CU4Kids.org">CU4Kids.org</a>.About CMN Hospitals:Children’s Miracle Network Hospitals® raises funds for 170 children’s hospitals that support the health of 10 million kids each year across the U.S. and Canada. Donations go to local hospitals to fund critical life-saving treatments and healthcare services, along with innovative research, vital pediatric medical equipment, child life services that put kids’ and families’ minds at ease during difficult hospital stays and financial assistance for families who could not otherwise afford these health services. When we improve the health of all children and allow them the opportunity to reach their full potential, we also improve our communities for years to come. Together, we can change kids’ health. Together, we can change the future. To learn about Children’s Miracle Network Hospitals and your local children’s hospital, visit&nbsp;<a href="http://cmnhospitals.org/">cmnhospitals.org</a>.About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="https://www.velera.com/">velera.com</a>.

Velera Announces Miracle Momentum Awards in Support of Children’s Miracle Network Hospitals

Seventh annual “Eye on Payments” study focuses on evolving payment preferences and behaviors among U.S. consumersSt. Petersburg, Fla. (Oct. 16, 2024) –&nbsp;<a href="https://www.velera.com/">Velera</a> – formerly&nbsp;PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – has announced the release of its 2024 Eye on Payments study. The seventh annual report gauges payment preferences and behaviors among credit union members and other financial institution customers (“non-members”), examining how they have shifted and evolved within the past 12 months and recent years.This year’s study found that consumers are reporting they prefer credit over debit when it comes to their preferred top-of-wallet payment method. This represents a notable shift that extended into changes among payment preferences for certain types of purchases and situations, as well as an increase in credit card applications. The rise of credit cards is coupled with consumers turning more frequently toward payment options like mobile wallets and person-to-person (P2P) payment accounts, with some consumers even claiming these as their primary methods of payment.&nbsp;The 2024 report also revealed that younger generations’ preferences and behaviors are driving a majority of these trends, including what offerings are growing in popularity and usage in the payments landscape.&nbsp;Not surprisingly, younger generations prefer credit cards and are also the most prolific users of mobile wallet technology, contactless cards, P2P payment accounts and Buy Now, Pay Later (BNPL) programs.Not only are consumers leaning more heavily into credit and digital payments options, but security is top of mind, impacting how most consumers choose with which method to pay. Velera’s Eye on Payments has been tracking an increase in reported fraud incidents since 2021: This year, 10% of credit union members experienced identity theft and 14% reported they were victims of card fraud, compared to just 4% and 8% in 2021, respectively. Similarly, eight in 10 (82%) credit union members report they make decisions about how to pay for something based on which is the most secure, up from 73% in 2023.“Through this annual research, Velera aims to determine the factors that influence consumer payments preferences and behaviors to help credit unions make informed, strategic decisions. Each year, this becomes increasingly difficult as credit unions are not only faced with keeping pace with the rapidly evolving payments industry and competitors, but also addressing larger challenges such as an uncertain economic outlook and ongoing inflationary pressures, among others,” said Velera Chief Marketing &amp; Communications Officer Tom Pierce.&nbsp;“The 2024 Eye on Payments study makes it clear that the payments industry is resilient, and that opportunities for credit unions to succeed and grow are plentiful. Whether it is enhancing member experiences or investing in mobile and digital solutions, we believe the key findings and takeaways from Eye on Payments can help credit unions earn the top of wallet and mind spot among current members, while sparking interest from other consumers and non-credit union members alike,” Pierce said.Other key findings from the study include:<ul><li style="text-align:justify;">Although there was a shift in overall preference, debit remains a close second with 35% of consumers reporting it as their preferred payment option. Cash has also maintained a steady place in consumers' wallets with 16% of consumers saying cash is their first pick.</li><li style="text-align:justify;">More than one-quarter of credit union members (26%) use an ATM at least a few times a week, and most report cash withdrawals as the reason (70%).</li><li style="text-align:justify;">More than half of credit union members (55%) say that card design – ranging from type of card material to whether it is produced sustainably, among other attributes – influences which card they choose to use, up from 39% in 2023.</li><li style="text-align:justify;">Fifty percent (50%) of credit union members report they use a mobile wallet at least a few times per month, up from 34% in 2023 and 27% in 2022.</li><li style="text-align:justify;">Person-to-person (P2P) accounts have also become more mainstream, with the number of credit union members who report using a P2P account as their primary payment method rising from 12% in 2023 to 25% in 2024.</li><li style="text-align:justify;">Eight in 10 (82%) credit union members who know their financial institution offers a BNPL program have utilized it, increasing from 69% in 2022. At the same time, interest in utilizing a BNPL offering from a financial institution remains steady (32% in 2024, 33% in 2023 and 31% in 2021).</li><li style="text-align:justify;">Not only have more credit union members invested in cryptocurrency this year, up from 24% in 2023 to 39% in 2024, but they also indicate an increased interest in learning more about it from their financial institution, up from 30% in 2023 to 45% in 2024.</li></ul>In addition to taking a more in-depth look at these key findings, the study also analyzes how and why payment method preferences differ among the generations, as well as key takeaways credit unions can implement to better meet member payment preferences and needs in key opportunity areas.Velera surveyed 1,850 credit union members and non-members from across the U.S. The online survey, conducted in June and July 2024, was taken by participants ages 18 to 65+. Of those surveyed, 43% were male and 57% were female, and demographic characteristics of those surveyed align with consumer data from America's Credit Unions Member Profile. Generations were defined as: Generation Z, ages 18-27; Younger Millennials, ages 28-35; Older Millennials, ages 36-43; Generation X, ages 44-59; Baby Boomers (Boomers+), ages 60 and above.The 2024 Eye on Payments&nbsp;white paper is available for download on the&nbsp;<a href="https://www.velera.com/eye-on-payments-2024">Velera website</a>.About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="https://www.velera.com/">velera.com</a>.&nbsp;

Velera Report Reveals Increase in Credit Card and Digital Payments Usage Amid Security Concerns 

St. Petersburg, Fla. (Sept. 25, 2024) –&nbsp;<a href="http://www.triverity.com/">TriVerity</a>, a<a href="https://www.pscu.com/">&nbsp;Velera</a> company,&nbsp;today announced David Knowles has been named president. In his role, Knowles will oversee the delivery of services, contracting, digital integration, marketing, IT, support and more within TriVerity. Knowles will also lead disputes and operations for Velera.“We are pleased to have David step into the role as president of TriVerity, bringing with him both an extensive and diverse background in advisory consulting and multinational banking,” said Velera EVP, Chief Operations Officer Dean Michaels. “As a leader with a proven track record of optimizing organizations for efficiency and growth, we are confident he is the right person to lead the TriVerity business at this time of continued integration across our organization.”Knowles joined Velera by way of the PSCU/Co-op Solutions combination in January 2024. Prior to being named president of TriVerity, he served as senior vice president of Client Delivery and Operations with Co-op Solutions, where he led client conversions and implementations, settlement, vendor escalations, client services and operations, among other initiatives. Originally from the United Kingdom and now based in Charlotte, N.C., Knowles holds more than 20 years of experience in the financial services and consulting industries, holding positions across advisory consulting and multinational banking functions in the United States, Bermuda, Latin America and Europe. He started his financial services career in collections. Knowles holds a Bachelor of Science from Coventry University and a diploma in International Business Management from L’Institut d’Administration d’Enterprises at the University of Montpellier in France.For over three decades, TriVerity has been recognized as the industry’s leading expert for third- and&nbsp;first-party collections of all loan types. The organization is known for building partnerships that result in reduced delinquency, prioritizing service excellence and guiding borrowers in the resolution of delinquencies.&nbsp;TriVerity’s comprehensive delinquency management suite of services, payment portal and client support work together to minimize losses from unpaid loans.About TriVerity&nbsp;TriVerity, a Velera company, is a full-service first- and third-party collection agency that manages early-stage delinquency, non-performing loans and charged-off loans with a comprehensive menu of collection services. Since 1990, TriVerity has worked with over 2,700 financial institutions nationwide and is a leading industry expert for financial institution collections of all loan types. TriVerity’s broad spectrum of collection resources and training programs help financial institutions manage and mitigate loan delinquency rates. For more information, go to&nbsp;<a href="https://www.TriVerity.com.">www.TriVerity.com.</a>About VeleraVelera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit&nbsp;<a href="https://www.velera.com/">velera.com</a>.

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PSCU/Co-op Solutions Enters its Next Era as Velera

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