Velera Partners with Utilities Employees Credit Union for Card Processing Services

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 Utilities Employees Credit Union (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. 

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." 

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 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 pscu.com and coop.org.