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PSCU to Partner with Welcome Technologies and MRV Banks, Bringing Credit Card Program to Underserved Immigrant Communities

St. Petersburg, Fla.— (Dec.16, 2020)PSCU, the nation’s premier payments credit
union service organization (CUSO), today announced thatWelcome Technologies has selected the CUSO to
provide processing services and support for its first-ever credit card program.
The foremost technology company empowering immigrant communities, Welcome
Technologies has built an innovative consumer platform that provides
information and products to enable its two million members to thrive in their
adopted country. The two companies are eager to join forces to help immigrant
families access financial services and realize the American dream.

Following a
comprehensive review process, Welcome Technologies selected PSCU to help launch
its first credit card program – in conjunction withMRV Banks (Ste. Genevieve, Mo.) as the agent
bank andMastercard
as the card network – to serve immigrants, bilingual community members and
underserved households. The CUSO’s industry-leading technology, API
connectivity, fraud capabilities, overall product portfolio and 24/7 service
model were all key factors in the decision.

“Welcome
Technologies’ mission closely aligns with the credit union philosophy of
‘people helping people,’ which is at the center of our culture and everything
we do at PSCU,” said Chuck Fagan, president and CEO of PSCU. “We are extremely
proud to have the opportunity to work alongside Welcome Technologies, MRV Banks
and Mastercard to provide Welcome Technologies’ members with access to
financial services, support and – ultimately – greater success in life.”

In addition to
credit processing support, PSCU will assist with debt management and credit
lending through CURecovery and The Loan Service Center.

“Millions of
immigrants are underbanked, unbanked and lack credit scores, being forced to
spend upwards of $50 billion annually on predatory financial services. We are
working to solve this crisis and were extremely pleased to find a company like
PSCU that shares our passion,” said Amir Hemmat, founder and CEO of Welcome
Technologies. “At Welcome Technologies, we know and understand the importance
of providing tailor-made services, machine learning technology and relevant
financial education to our members, all of which PSCU is able to help us
provide – and more. We look forward to helping improve the financial lives of
immigrants across the U.S. through this partnership.”

PSCU will begin
providing credit card services – under the name Saber es Poder – to users in March
2021, with collections support to follow. Credit services will include 24/7
contact center support, comprehensive fraud monitoring services and more.
Welcome Technologies will also have access to PSCU’s QuickAssist, which gives
staff single-point, real-time access to member credit card account data.

“Our shared values
and commitment to helping consumers across the U.S. made a partnership with
Welcome Technologies an ideal fit,” said Scott Wagner, EVP, chief revenue
officer at PSCU. “We are pleased for Welcome Technologies to join the PSCU
family and are eager to work together to provide industry-leading technologies
and services, while delivering an unparalleled experience to their members at a
time when it is more important than ever that we come together and support one
another.”

About PSCU
PSCU, the nation’s premier payments CUSO, supports the success of 1,500 credit unions representing more than 5.4 billion transactions annually. Committed to service excellence and focused on innovation, PSCU’s payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands. For more information, visit pscu.com.

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