PSCU, the largest credit union services organization (CUSO) in the United States, has announced a pair of acquisitions in the collections and recovery space. The company acquired CU Recovery Inc. and The Loan Service Center Inc.
Terms of the deal were not disclosed.
CU Recovery handles post charge-off accounts and is a full-service collection agency, while The Loan Service Center is a first-party collection company.
“PSCU is excited about the opportunity to expand its collections offering into our existing suite of payments solutions,” said Jack Lynch, Chief Risk Officer at PSCU, in a statement. “The acquisition of CU Recovery and The Loan Service Center enhances our current account recovery and collections services, enabling us to provide a more robust offering and ultimately a more integrated member experience.”
CU Recovery and The Loan Service Center are based in Wyoming, Minn., PSCU is based in St. Petersburg, Fla.
