VeleraNOW Regional Event 

Velera Fraud Buzz

Velera Quarterly Update

THINK24: How the PSCU/Co-op Unification into Velera Changes Corporate Governance and Strategy

Velera 14 CUs Partnering with JA on 'Credit Unions Nationwide' Initiative

Winning Top of Wallet: How Banks Compete in the Embedded Finance Era

Velera Launches New Onboarding and Project Management Platform

New Data: Self-Service Innovation Emerges as Key to Credit Union Retention and Growth

Velera THINK24 Coverage: Team Overseeing Merger of Former PSCU/Co-op Solutions Products Discusses What's Happening

Navigating Challenges for Credit Union Growth

Superheroes Raise $85000 at the Walk for Miracles Presented by Velera

Credit Union News Article 

A New Role Members Must Play

<span style="color:hsl(0,0%,0%);font-family:system-ui, -apple-system, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, &quot;Noto Sans&quot;, &quot;Liberation Sans&quot;, Arial, sans-serif, &quot;Apple Color Emoji&quot;, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;, &quot;Noto Color Emoji&quot;;">Explore the latest Velera announcements, media coverage and thought leadership - and engage with our subject matter experts on timely industry trends through in-person and virtual events. Through our various communications channels, Velera keeps your credit union engaged, informed and inspired to better serve your members.

News & Events

St. Petersburg, Fla. — (Aug. 22, 2024) —<a href="https://www.velera.com/">&nbsp;Velera</a> – formerly 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 partnership with <a href="https://civicfcu.org/">Civic Federal Credit Union</a> (Civic) to provide contact center services and support.The first of its kind in North Carolina, Civic is a digital-first credit union that serves local government employees and their families across the state. With 11 branches opening in 2024, the credit union provides products and services that empower members to achieve financial goals, increase financial wellness and in turn, create stronger communities. Civic operates with its commitment to people, planet and prosperity top of mind, which is part of its values-based banking model that considers how North Carolina communities can thrive today and into tomorrow.In seeking a partner for member experience support, Civic prioritized finding a provider to fit the needs of the credit union and its members now and as it grows well into the future. Following an extensive search and vetting process, Civic chose Velera.“We believe a true partnership is a mutual collaboration – it is all about coming together to determine what is best for our membership and employees, and we felt Velera held similar member- and employee-first philosophies," said Civic SVP of Member Experiences Maria Moore. "We believe innovating on new approaches, advocating for our membership and crafting unique solutions will result in a successful partnership, and we are excited about all that we will achieve in our new relationship with Velera.”The CUSO will begin providing services for Civic in the fall of 2024.“We are extremely pleased to be working alongside Civic as it looks to change the ways its members manage and maintain their financial lives,” said Velera EVP, Chief Growth Officer Brian Scott. “Civic’s approach to digital- and people-first financial services is perfectly aligned with our goals at Velera. We are eager to provide the credit union and its members with elevated and enhanced contact center services and offerings.”About Velera Velera, 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 <a href="https://www.velera.com/">velera.com</a>.

Civic Federal Credit Union Selects Velera for Contact Center Support and Services

St. Petersburg, Fla. (Aug. 1, 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&nbsp;IDCheck by Co-op. Now available for the Co-op Shared Branch network, the solution protects members’ identities and facilitates authentication, providing a member experience that is both seamless and secure, while also helping protect credit unions’ bottom lines.“With the increase in digital capabilities and payments offerings, the potential for fraud will also continue to grow,” said Amy Evans, SVP, Strategic Network Solutions for Velera. “IDCheck supports an omnichannel fraud fighting and prevention strategy to safeguard credit unions and their members participating in Co-op Shared Branch.”&nbsp;IDCheck helps protect members by authenticating their identity via their smart devices when accessing their account at a shared branch. IDCheck asks members to share a photo of their ID and a selfie. It then uses advanced graph-defined logic, artificial intelligence and biometric data to verify the ID and the member in real time. Members then get a one-time passcode to share with a teller and confirm their identity. Alternatively, the member may pre-authenticate their identification before going into a branch to transact. They may also save their validation for future visits, further enhancing a streamlined experience.Extensive beta testing by Co-op Shared Branch network credit unions produced a number of measurable results pointing to the effectiveness and efficiency of IDCheck. The findings included a 99% first-attempt validation success rate and 100% fraudulent IDs and AI-generated deep fakes rejection. In addition, on average, members saved 48% of their time with stored validation, while tellers saved 26%, respectively.Among the beta testing institutions were American Heritage Credit Union (Philadelphia) and Corry Federal Credit Union (Corry, Pennsylvania).“We’re trying really hard to make the frontline an easier experience and reduce friction, which will improve the employee experience and, therefore, our members’ experience,” said American Heritage Credit Union Vice President of Branch Operations Brian Shotwell. “I think IDCheck is exactly one of those tools that can do that. We found that it is intuitive and user-friendly, which makes it incredibly easy for both our members and associates to navigate.”“The best thing about IDCheck is the extra security if offers.&nbsp;It gives us&nbsp;the assurance that we’re helping to prevent fraud for our members, our credit union and the entire shared branching network,” said Corry Federal Credit Union Chief Financial Officer Kelly Soety.The Co-op Shared Branch network allows credit union members to conduct transactions at partner credit unions throughout the country, enabling them to have full credit union functionality even when traveling. There are currently more than 5,400 shared branch locations throughout North America, as well as in several European countries, along with 22 Shared Branch Express self-service locations. In 2023, an average of 3.6 million transactions a month flowed through these shared branch locations.For more information on Velera’s Co-op Shared Branch, visit the&nbsp;<a href="https://www.coop.org/Solutions/Engage/Co-op-Shared-Branch">solutions page</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.pscu.com/">pscu.com</a> and&nbsp;<a href="https://www.coop.org/">coop.org</a>.

Velera Introduces IDCheck to Help Combat  Identity and Account Takeover Fraud 

St. Petersburg, Fla. (July 30, 2024) – <a href="https://www.velera.com/">Velera</a> – formerly PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider -- has been named to the Forbes list of America’s Best Employers for Women 2024. Velera is one of 600 companies included on the list, ranking in the top 200 of employers overall and the top 15 in the Banking and Financial Services industry.This prestigious award is presented by Forbes and Statista Inc., the leading statistics portal and industry ranking provider. America’s Best Employers for Women were identified in an independent survey from a vast sample of over 150,000 women working for companies employing at least 1,000 people within the U.S. from all industry sectors. More than four million employer evaluations are considered, based on the following three categories:<ol style="list-style-type:decimal;"><li>Personal Evaluations: Respondents were presented with a battery of statements about their current employer, in terms of topics related to Atmosphere &amp; Development, Diversity, Image, Salary/Wage, Workplace, and Working Conditions, as well as topics women are often confronted with in the workplace: Representation &amp; Career, Pay Equity, Discrimination, Flexibility, Family Support, and Parental Leave.</li><li>Public Evaluations: Women participants were given the chance to evaluate other employers in their respective industries, or the employers of friends, acquaintances, and family members that stand out either positively or negatively.</li><li>Diversity Among Top Executives/Board: Index based on the percentage of women among top executives and board directors.</li></ol>Ultimately, these categories were evaluated and combined to create a final score, with companies with the highest scores making the list.“While Velera has evolved significantly over the past year, our team’s longstanding commitment to providing an inclusive, people-focused and supportive culture has remained constant,” said Chuck Fagan, president and CEO of Velera. “We are extremely proud to be recognized for this continued commitment by being named one of America’s Best Employers for Women, and it is humbling to know we were given this recognition due in large part to responses and opinions from our own employees and associates.”Velera prides itself on cultivating a diverse, equitable and inclusive community where differences are embraced and treasured. More than 30% of Velera’s workforce is actively involved in one of its Business Resource Groups (BRGs), with its Susan Adams Gender Equality (SAGE) and InspiHer resource groups focused on fearlessly leading the change to make gender equality a reality.“Velera proudly employs thousands of the most talented women in the credit union industry, and it is extremely gratifying -- especially as a woman in a leadership role -- to be given this recognition from Forbes,” said Cheryl Middleton Jones, chief people officer, Velera. “To be listed alongside other companies that promote the advancement and success of women is truly an honor, and we look forward to continuing this focus for years to come not only at Velera, but across the credit union industry.”In 2023, the company was named by Forbes as one of America’s Best Midsized Employers and was one of just 57 companies globally to win the Gallup Exceptional Workplace Award, which recognizes the most engaged workplace cultures in the world.Forbes’ full list of America’s Best Employers for Women can be viewed at <a href="https://www.forbes.com/lists/best-employers-women/">forbes.com/lists/best-employers-women/</a>.About Velera Velera, 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 <a href="https://www.velera.com/">velera.com</a>.

Velera Recognized as One of America’s Best Employers for Women by Forbes

St. Petersburg, Fla. — (July 30, 2024) —<a href="https://www.triverity.com/"> TriVerity</a>, a <a href="https://www.velera.com/">Velera</a> company, announced it has partnered with <a href="https://akuvo.com/">AKUVO</a>, a technology company specializing in collections and credit risk. The integration will facilitate a seamless process for third-party charge-off collections through AKUVO’s cloud-based collections platform to help maximize credit unions’ recoveries from non-performing loans.“We are thrilled to incorporate AKUVO's cloud-based capabilities into our comprehensive delinquency management suite through this partnership,” said TriVerity Senior Vice President, Client Service and Marketing Wendy Elieff. “This relationship will bolster TriVerity’s ability to efficiently recover charged-off accounts while providing credit unions with a single-source delinquency management solution that elevates the&nbsp;member experience.”Built by a team of individuals with more than 20 years of experience, AKUVO employs a data-driven and behavior-based approach to credit risk and delinquency management. The addition of AKUVO’s platform, leveraging automation and analytics, will enhance TriVerity’s offerings by providing advanced guidance and improving workflow through continuous connections with core processors, credit bureaus, payment providers, text messaging services, legal resources and more.“We are pleased to partner with TriVerity to provide a seamless process for third-party charge-off collections, ultimately strengthening collectability and revenue benefits for credit unions,” said AKUVO SVP of Relationships Mike Ruggiero. “Through this partnership, the integration of AKUVO’s efficiency-focused collections platform will generate operational insights and support TriVerity in optimizing charge-off strategies.”For over three decades, TriVerity has been recognized as the industry’s leading expert for third-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.In addition to its third-party offerings, TriVerity – in partnership with Velera – provides first-party collection staffing solutions for financial institution collection departments to minimize losses on their delinquent active loan portfolio. TriVerity’s comprehensive delinquency management suite of services, payment portal and client support work together to minimize losses from unpaid loans.About TriVerity 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 <a href="https://www.triverity.com/">www.TriVerity.com.</a>About Velera Velera, 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 <a href="https://www.pscu.com/">pscu.com</a> and <a href="https://www.coop.org/">coop.org</a>.About AKUVO AKUVO is a leading provider of&nbsp;<a href="https://akuvo.com/">cloud-native collections software solutions</a>&nbsp;that elevate how&nbsp;<a href="https://akuvo.com/who-we-serve-banks/">banks</a>,&nbsp;<a href="https://akuvo.com/who-we-serve-credit-unions/">credit unions</a>, and&nbsp;<a href="https://akuvo.com/who-we-serve-fintechs">fintechs</a>&nbsp;collect and manage their portfolios via its products. Whether it is through their stand-alone&nbsp;<a href="https://akuvo.com/virtual-collector">virtual collector</a>, or its&nbsp;<a href="https://akuvo.com/platform">next-generation collections platform</a>, AKUVO provides the technology and data necessary to increase collections efficiency, provide a digital consumer experience, reduce staff costs, anticipate delinquencies, and provide insight into future credit decisions. AKUVO delivers a digital future for collections and account performance management with a visionary, behavior-based approach while taking full advantage of emerging technologies such as artificial intelligence, natural language processing, and machine learning. To learn more, visit&nbsp;<a href="https://akuvo.com/">www.akuvo.com</a>.&nbsp;

Velera’s TriVerity Announces Integrated Partnership with AKUVO

Ryan Myers will oversee CUSO’s consulting strategy and team integrationSt. Petersburg, Fla. (July 11, 2024) – <a href="https://www.velera.com/">Velera</a>, formerly PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, today announced Ryan Myers has been named senior vice president of Consulting.In his role, Myers is responsible for driving Velera’s consulting strategy with a focus on integrating the CUSO’s Advisors Plus and SmartGrowth consulting teams, while ensuring the continued delivery of impactful, results-driven consulting engagements. He will also lead the expansion of new consulting areas to better assist all credit unions in achieving growth and scalability, along with building a team to support implementation of recommendations.“With a wealth of experience, Ryan brings a proven track record in the consulting and financial services industries to the Velera leadership team,” said Velera EVP, Chief Growth Officer Brian Scott. “We are excited to welcome him to Velera and are confident that his contributions will continue to advance our Consulting team as they fuel growth across the credit union, payments and financial services industries.”With more than 20 years of banking industry expertise in strategic planning, analysis and technology, Myers most recently served as chief innovation officer of a startup fintech helping credit unions offer Buy Now, Pay Later (BNPL) services. Prior to this role, he served in consulting positions for nearly seven years with Cornerstone Advisors, where he facilitated strategic planning for several credit unions and led a team of consultants specializing in operational efficiency and financial technology. He previously managed consumer products and loan strategy teams at Bank of America for more than 12 years. Myers holds a B.E. in Computer Science, an M.S. in Information Management and an MBA from Arizona State University.About Velera Velera, 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 <a href="https://www.velera.com/">velera.com</a>.

Velera Appoints Senior Vice President of Consulting

St. Petersburg, Fla. (July 9, 2024) – <a href="https://www.velera.com/">Velera</a> – formerly PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – is excited to announce it has launched a credit union-focused partnership with 3DE by Junior Achievement, an innovative model for public education focused on reengineering high school in order to provide economic opportunity for all students.3DE by Junior Achievement is an immersive public high school model serving over 15,000 students across 60 schools in 32 districts and 13 states. 3DE makes learning relevant by connecting education to real-world concepts, drives engagement through business connectivity, and enhances student retention with opportunities to apply academic knowledge.Under the brand “Credit Unions Nationwide,” Velera, as the lead sponsor for this case study, is partnering with 14 credit unions in six U.S. cities – Atlanta; Tampa; Houston; Kansas City; Minneapolis; and Cedar Rapids, Iowa. In collaboration with 3DE, they have co-authored a credit union-focused case study for students in 3DE Schools. 3DE ninth-grade students in participating cities and schools will engage with the case study, developing the 3DE competency of Self Direction and an understanding of the value of credit unions and the importance of savings. Velera’s new partnership with 3DE by Junior Achievement will amplify current efforts with Junior Achievement (JA) across the industry, with more than 350 credit unions in 41 states already working with JA in some capacity. In fact, credit unions were <a href="https://jausa.ja.org/news/press-releases/junior-achievement-honors-69-organizations-with-a-u-s-president-s-volunteer-service-award">recently recognized</a> with a Gold U.S. President's Volunteer Service Award for dedicating over 10,000 hours of volunteerism to JA. Other recipients of this recognition included Accenture LLP, Ernst &amp; Young LLP, Johnson &amp; Johnson, JPMorgan Chase, KPMG LLP and the National Credit Union Foundation.“Velera is extremely proud and excited to have the opportunity to establish a partnership with 3DE by Junior Achievement on behalf of the credit union industry. Many credit unions already work with Junior Achievement at the local level, and we are energized to elevate credit union involvement on a larger scale and supplement the great work already taking place,” said Velera President and CEO Chuck Fagan. “We are looking forward to putting the ‘people helping people’ credit union philosophy into practice through this partnership, and to help prepare our nation’s youth to meet the challenges of today’s financial landscape.”Credit unions currently partnering alongside Velera on the new Credit Unions Nationwide initiative include:<ul><li>Associated Credit Union (Norcoss, Georgia)</li><li>Blaze Credit Union (Falcon Heights, Minnesota)</li><li>CommunityAmerica Credit Union (Kansas City, Missouri)</li><li>Floridacentral Credit Union (Tampa, Florida)</li><li>Georgia United Credit Union (Duluth, Georgia)</li><li>Grow Financial Federal Credit Union (Tampa, Florida)</li><li>Mazuma Credit Union&nbsp;(Overland Park, Kansas)</li><li>Resource One Credit Union (Dallas)</li><li>Shell Federal Credit Union (Deer Park, Texas)</li><li>Smart Financial Credit Union (Houston)</li><li>Suncoast Credit Union (Tampa, Florida)</li><li>USF Federal Credit Union (Temple Terrace, Florida)</li><li>Wellby Financial Credit Union (Houston)</li><li>Wings Credit Union (Apple Valley, Minnesota)</li></ul>Velera’s goal is to continue expanding this partnership following a successful pilot program during the 2024-2025 school year. Credit unions interested in participating can contact <a href="mailto:JA@pscu.com">JA@pscu.com</a> for more information.About Velera Velera, 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 <a href="https://www.pscu.com/">pscu.com</a> and <a href="https://www.coop.org/">coop.org</a>.

Velera and Credit Union Partners Join Forces with 3DE by Junior Achievement to Deliver Credit Union-Focused Case Study to Students Nationwide

St. Petersburg, Fla. (June 27, 2024) – <a href="https://www.velera.com/">Velera</a> – formerly PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – today announced it has launched an innovative new onboarding and project management platform. Powered by ServiceNow, the first-of-its kind platform in the payments space is a true differentiator. Credit unions will benefit from the improved transparency and enhanced collaboration provided by this engagement tool – all while laying the groundwork for future generative AI integration.Located within Velera’s Service Portal, the new Project Management Page is a 24/7, self-service offering that provides credit unions the ability to access and view project demand and active project requests in real time – and in one place. Leveraging ServiceNow and a customized user interface, the Project Management Page streamlines projects and elevates the delivery experience, replacing complex, manual industry-wide processes.“Velera is committed to bringing its credit unions the most relevant, innovative and leading-edge solutions. Our investment in this technology is just one example of this promise in action – and the value that we continue to provide our credit unions,” said Velera President and CEO Chuck Fagan. “In addition to driving efficiencies, this truly unique offering will transform the marketplace. To date, few companies have been able to successfully implement this type of technology and we are excited about its ability to provide a significantly enhanced experience for our credit unions.”“We found the new Project Management Page in Velera’s Service Portal to be efficient and easy to use,” said Kim Harmon, electronic services manager of Indiana Members Credit Union. “It’s easily accessible and we can manage all our projects from one location. Adding documents directly into the project request has significantly reduced extra steps and is a great improvement. We are very pleased with the streamlined experience this new self-service platform delivers.”About Velera Velera, 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 <a href="http://pscu.com/">pscu.com</a> and <a href="http://coop.org/">coop.org</a>.

Velera Introduces Innovative Onboarding and Project Management Platform

St. Petersburg, Fla. — (June 13, 2024) — Velera, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, is pleased to announce its partnership with <a href="https://uecu.org/">Utilities Employees Credit Union</a> (UECU) to provide debit and credit card processing services and support.Established in 1934 to cater to gas and electric utility employees on the East Coast, UECU now serves more than 50,000 members nationwide. Headquartered in Wyomissing, Pennsylvania, and holding $1.3 billion in assets, UECU's virtual credit union model provides members with easy access to convenient digital banking services and personalized assistance from friendly and knowledgeable employees wherever members are located.&nbsp;In its search for an ideal partner, UECU prioritized organizations that offered highly reliable card production and fulfillment capabilities, excellent client service and communications, depth of experience, modern client portals and applications, and disputes advocacy. After undergoing an extensive search and vetting process, UECU selected Velera."At UECU, we are committed to creating a financial cooperative that establishes and promotes financial well-being, with a goal of having our members feel they have a trusted financial partner for life," said UECU CEO Bret Krevolin. "Our partnership with Velera is another step toward achieving this and a decision that we think will truly allow us to meet all of our members in their preferred channels and when they need us most."&nbsp;Velera will begin providing card processing services for UECU in October 2024.“UECU’s dedication to delivering a seamless member experience aligns with Velera’s values,” said Velera EVP, Chief Growth Officer Brian Scott. “We are pleased to have the opportunity to help UECU enhance its card programs and offerings, enabling the team to continue providing best-in-class service to its members.”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 <a href="http://pscu.com/">pscu.com</a> and <a href="http://coop.org/">coop.org</a>.

Velera Partners with Utilities Employees Credit Union for Card Processing Services

St. Petersburg, Fla. (May 30, 2024) – Velera – formerly 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 <a href="https://www.truliantfcu.org/">Truliant Federal Credit Union</a> (Truliant) to provide comprehensive credit card processing services, alongside continued contact center support.Headquartered in Winston-Salem, N.C., Truliant was established in 1952 to serve employees of Western Electric across the Piedmont Triad region of North Carolina. Today, the credit union holds more than $5.2 billion in assets, serving over 332,000 members with more than 30 locations across the Carolinas and Virginia.With its mission of improving lives by putting members first, providing great service and straightforward financial solutions, Truliant undertook a thorough, comprehensive review and evaluation process to identify a credit card processing partner that excelled in five focus areas: member experience, system integration, employee experience, fraud and portfolio/relationship management. The credit union felt an expansion with Velera was the ideal fit.“Truliant was looking for a partner to support our focus on meeting the evolving payment needs of our members, with a goal of reducing friction and increasing functionality,” said Truliant Chief Digital Officer Jeff Hibbard. “Through this partnership with Velera and the CUSO’s strong integration with our digital banking provider, we will have the ability to expand our payment and digital offerings and meet more member needs with enhanced features ranging from improved integration in digital banking to enriched payment options and card on/off functionality, among others.”Velera will begin providing credit card services to Truliant members in early 2025.“We are extremely pleased Truliant chose to expand its partnership with Velera as a result of our shared focus on cutting-edge technology and appreciation for the importance of credit union-specific products in the payments space,” said Brian Scott, EVP, chief growth officer for Velera. “We look forward to working alongside the Truliant team in this elevated capacity to enhance their credit card offerings and provide the types of services and support Truliant members have come to know and expect from their trusted credit union partner.”About Velera Velera, 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 <a href="https://pscu.com/">pscu.com</a> and <a href="https://coop.org/">coop.org</a>.

Truliant Federal Credit Union Expands Partnership with Velera with Addition of Credit Card Processing

More than 180 fee-free Co-op ATMs are now available in the stateSt. Petersburg, Fla. (May 21, 2024) – <a href="https://www.velera.com/">Velera</a> – formerly PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – has announced that <a href="https://www.cportcu.org/">cPort Credit Union</a> has joined the Co-op ATM network. The agreement not only enables members of cPort to have access to 32,000 fee-free ATMs nationwide, but also significantly adds to the number of network ATMs available to members of all participating credit unions in the state of Maine.The Co-op ATM network has been growing rapidly in recent years in Maine. In March 2022, the network added 60 machines in Hannaford Supermarket locations throughout the state. With cPort joining the network, the total number of ATMs in Maine now numbers more than 180. cPort will go live with its network participation in Fall 2024.“Joining Co-op ATM is a tremendous convenience for our members, who can now access a surcharge-free machine throughout the state – indeed, throughout the country,” said Jennifer Bouchard, vice president of Branch Operations for cPort. “Being a part of the network, our own ATMs are now available to members of other participating credit unions – it’s a true display of the collaborative spirit of the credit union movement.”&nbsp;cPort Credit Union, based in Portland, is one of Maine’s fastest-growing credit unions and serves more than 30,000 members in the state’s southernmost counties. The institution maintains five branches throughout Portland, Augusta and Scarborough.“Co-op ATM is the largest credit union-owned ATM network in the U.S., with more than 32,000 machines available nationwide for surcharge-free access by credit union members,” said Brian Scott, EVP, chief growth officer for Velera. “The continuous addition of new ATMs to the network increases its value as a service to members. Maine is already one of the most active areas in the country in the Co-op Shared Branch network, and our increased ATM footprint now makes accessing Co-op ATM equally convenient.”Comprised of nearly 7,500 deposit-taking ATMs and 2,000 participating credit unions, the Co-op ATM network is larger than any commercial bank network. It includes a host of locator services, including the website at <a href="https://co-opcreditunions.org/locator">https://co-opcreditunions.org/locator</a>. The Co-op Shared Branch network comprises 5,400 locations, enabling members of participating credit unions to transact their account-related business as if they were in their own home branch.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 <a href="http://pscu.com/">pscu.com</a> and <a href="http://coop.org/">coop.org</a>.

News & Events

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

Events