Utilities Employees Credit Union (UECU) has partnered with Velera to enhance their debit and credit card processing services, aiming to improve financial services for their members. This partnership aligns with UECU’s mission to foster financial well-being and offer trusted financial support to its members nationwide. The collaboration signifies a strategic move to meet members’ needs effectively through advanced technological solutions.
Velera, previously known as PSCU/Co-op Solutions, has a history of rebranding efforts to better serve its clients. The rebranding, which started in May, was aimed at streamlining its services and expanding its reach. Similar partnerships in the past involved collaborations with Maine-based cPort Credit Union and Hawaii-based Aloha Pacific Federal Credit Union, focusing on enhancing their financial technology capabilities.
In a significant step forward, Velera will begin providing its services to UECU in October. Headquartered in Wyomissing, Pennsylvania, UECU serves over 50,000 members and manages $1.3 billion in assets. This initiative is part of UECU’s broader strategy to offer seamless digital banking services and personalized financial assistance to its members.
Velera’s Rebranding and New Partnerships
Velera’s rebranding from PSCU/Co-op Solutions aims to better align its services with the evolving needs of credit unions. The company has been actively forming new partnerships, including those with cPort Credit Union and NorState Federal Credit Union, to extend its financial technology solutions and support services.
The partnership with UECU involved a detailed selection process, focusing on card production, fulfillment capabilities, client service, communication, and disputes advocacy. UECU CEO Bret Krevolin highlighted that this collaboration would allow the credit union to better serve its members, enhancing their experience across various channels.
Member Experience Focus
Brian Scott, Executive Vice President and Chief Growth Officer at Velera, emphasized that UECU’s commitment to a seamless member experience aligns perfectly with Velera’s values. This partnership is expected to enhance UECU’s card programs, enabling the credit union to provide top-notch services to its members.
UECU’s virtual credit union model offers easy access to digital banking services, regardless of the members’ locations. This model is designed to provide personalized financial support, making it convenient for members to manage their finances efficiently.
Key Inferences
– UECU strategically chose Velera to enhance their card processing capabilities.
– Velera’s rebranding aims to better align with the needs of its clients.
– The partnership focuses on improving member experience through advanced technology.
This collaboration is a strategic move for both UECU and Velera. By leveraging Velera’s advanced financial technology solutions, UECU aims to offer enhanced card processing services and improve overall member experience. The partnership is a testament to UECU’s dedication to providing superior financial services and fostering member satisfaction. For Velera, this represents a significant step in expanding its reach and solidifying its position in the financial technology sector. This alliance is expected to bring mutual benefits and drive innovation in the credit union industry.
