PSCU Releases Weekly Performance Data Trends

PSCU, the nation’s premier payments credit union service organization, has updated its weekly transaction analysis from its Owner credit union members from week ending June 28, 2020.

Overall card growth rates declined last week. 

Debit card spend
 was up 12.2%, a decline of 9.3 percentage points over last week. Transactions were down 1.5%, returning to negative after one week of positive growth. 

Credit card spend was down 6.0% year over year, dropping 3.3 percentage points from the previous week. Transactions were down 9.7%, snapping an 11-week trend of improvements. Consumers continue strong usage of card-not-present (CNP) alternatives and appear to be using less cash. 

Cash withdrawal transactions at the ATM have been down 20% or more for 15 straight weeks, indicating less of a preference and desire for cash. For the most recent week, the number of cash withdrawals are down 24.4%.  PSCU has published a new document, “Weekly U.S. State/Territory Analysis,” on its COVID-19 microsite. This document, which we will publish weekly throughout the COVID-19 pandemic, ranks year-over-year performance levels in U.S. states and territories for debit purchases, credit purchases and ATM transactions. This week’s rankings are also attached.

WK26 trend infographic1