Pennsylvania State Employees Credit Union (PSECU) in the US has partnered with software provider Akuvo to modernise its collections operations.

The $9 billion-asset credit union, which serves nearly 600,000 members, has opted for the Akuvo collections platform as part of its latest partnership.

Akuvo's flagship Software-as-a-Service (SaaS) platform works across collections, credit disputes, repossessions, bankruptcy processing and risk analysis, while supporting "a growing ecosystem of integrations", Akuvo says.

The vendor, based in Malvern, Pennsylvania, further enhanced the platform with the launch of its Virtual Collector technology in September last year. The offering comprises an autonomous system for handling payment collections and delinquent accounts, and was recently selected by Sunrise Banks in May.

As the state's largest credit union, PSECU operates a full suite of lending services, including credit cards, mortgages, home equity, business and auto loans. According to its latest consolidated balance sheet, made up to 31 December 2024, the credit union currently maintains a loan book of approximately $6.46 billion.