PSCU and Co-op Solutions Merge to Create Credit Union Fintech Powerhouse

PSCU and Co-op Solutions announced their merger to create a major credit union service organization (CUSO) focused on fintech payments and financial technology services. The combined entity will generate approximately $1.4 billion in annual revenue and process around 8 billion transactions per year, spanning debit and ATM networks. PSCU CEO Chuck Fagan was named to lead the newly formed organization, which had not yet been branded at the time of announcement.

The merger emphasizes enhanced data analytics and fraud prevention capabilities for credit union members. The deal was expected to close on or around December 31, 2023. This consolidation represents a significant move in embedded finance infrastructure serving the credit union sector, creating a scaled competitor to bank-focused BaaS and payments providers.