Peach State Federal Credit Union, serving a robust membership across Georgia and South Carolina, is shifting its card processing services to Velera, a well-established credit union service organization. This strategic move highlights the ongoing evolution within financial institutions as they adapt to fast-paced technological advancements. Comprehensive improvements are expected, offering members enhanced payment solutions tailored to modern financial environments.
Previously, Peach State Federal Credit Union has undergone several innovations to stay competitive in the financial sector. By incorporating advanced technology, the credit union has looked to streamline operations and improve customer satisfaction. Now, with Velera’s card processing support, the union aims to widen its reach and fortify its service offerings in the digital age.
Why Velera?
Velera, starting its support in August for credit card processing and continuing with debit in September, boasts extensive experience with over 4,000 financial institutions across North America. Their services span payment processing, fraud management, digital banking, and strategic consulting, demonstrating a wide array of expertise in serving financial institutions.
“We are excited to work alongside an innovative payments provider like Velera that will allow us to better meet the evolving financial needs of our members,” said Peach State FCU’s Chief Operating Officer, Laura Ryll.
What Can Members Expect?
Members of Peach State FCU can anticipate improved service speed and efficiency, aligning closely with modern banking trends. The introduction of Velera’s solutions is designed to meet the growing demand for real-time payments, contactless cards, and AI-powered services, reflecting an industry shift towards digital transformation.
“We are confident that our card processing solutions and shared dedication to industry-leading service for credit union members will help position Peach State FCU to succeed and grow,” expressed Yvonne Stelpflug, Senior Vice President at Velera.
The collaboration with Velera represents a broader industry trend identified by the PYMNTS Intelligence and Velera report: credit unions of all sizes are pushing towards sophisticated financial technologies. These shifts are crucial as the industry continues to face rapidly evolving member expectations and technological landscapes.
Leadership within Velera, inclusive of a diverse committee from varied credit unions, plays a significant role in guiding its operations and strategic path. Executives across the United States contribute to shaping Velera’s initiatives, strengthening the link between advanced service offerings and strong governance.
This partnership marks a significant threshold for Peach State FCU, reinforcing the necessity for financial institutions to adopt modern payment solutions. By leveraging Velera’s extensive services, credit unions can better serve their members, ensuring capabilities align with today’s financial service demands.
