Pasadena Service Federal Credit Union to Launch Digital Banking Platform

Pasadena Service Federal Credit UnionPasadena Service Federal Credit UnionPasadena Service Federal Credit UnionPasadena Service Federal Credit UnionPasadena Service Federal Credit UnionPasadena Service Federal Credit Union

By BRANDON VILLALOVOS

5:25 am | May 15, 2018


The Pasadena Service Federal Credit Union is investing digital services to enhance members’ banking experience with plans to launch a mobile banking platform that makes transactions more convenient.

CEO James Chang revealed plans that will include Apple Pay options and a new website at the credit union’s Annual Meeting Celebration last week. The event brought employees, members, the board of directors, and business partners together through good food and after-hours mingling.

“We like to show appreciation for members to let them know they’re valued and that we really appreciate their business,” said Chang at the annual bash outside the Pasadena Service headquarters in Hastings Ranch.

The Annual Meeting Celebration is an opportunity for the credit union and its members to connect on a personal level outside of business and create a sense of community that often isn’t associated with banking, according to Chang.

The celebration is also a time for Chang and his team to reflect on the credit union’s impact in the community the year before, as well as envisioning plans for the future.

This year, Chang says, is all about the digital age.

“We’re trying to use technology on a bigger level,” explained Chang. “We’re a little behind the curve with technology, but we’re trying to get that up and going.”

Chang says a full digital overhaul takes approximately six months to go live and members can expect to see big changes by the fourth quarter.

Some noticeable features will include an updated mobile banking system, a new website, and making convenient services such as Apple Pay more accessible for members.

“We’re really focusing on convenience this year and we are looking at ways to help members not only access their money, but being able to do things remotely, and we’re trying to invest a lot of our resources toward that,” said Chang.

PSFCU membership has been growing, according to Chang. The credit union expanded its reach into more San Gabriel Valley communities over the past year.

“That really helped us increase our membership in being able to service the residents in new cities that we were interested in,” said Chang.

Currently, PSFCU is closing in on 12,000 active members throughout the region.

Earlier this year, PSFCU opened a new branch on the campus of John Muir High School, which employs students and gives hands-on job experience for those interested in pursuing careers in the finance industry.

The fully functional branch is open to the community and is the product of a relationship between the credit union and the Pasadena Chamber of Commerce. They have previously created opportunities for Pasadena youth through successful internship programs and similar initiatives.

“I think it’s very important for the parents to realize there’s value in their kids by participating in the program and getting real-life work experience,” said Chang. “We’re all bought into the same philosophy of going in there and really bringing work-life experience to the students so they can go out and know what to expect when they find a real job,” said Chang.

The branch provides a direct and immediate relationship between the students and their families with a financial institution that can provide banking services, credit and more.

Chang says it’s too early to comment on the success of the John Muir branch, however, its launch inspired him and his team to think big and to entertain the possibility of opening a second school branch.

“It’s an ongoing process. We’re always looking to expand our business and it might be a possibility to open up another school branch in the future,” said Chang.

PSFCU also plans to work more visibly with the Covina branch and surrounding cities this year as their membership grows.

“We’re going to be focusing on the communities over there this year,” said Chang.

PSFCU also partnered with the State of California to launch an energy efficiency loan program for low-income homeowners and renters who are looking to purchase updated appliances and energy systems.

For more information, visit http://www.mypsfcu.org/.