PSCU to Host 24-Hour Innovation Hackathon

Business Wire
Friday, August 17th 2012

KnockOut 2012 Leverages Crowdsourcing Approach to Benefit Credit Unions


PSCU is inviting its Member-Owner credit unions to assemble teams of software designers, programmers and analysts – innovative thinkers and doers – to compete in its version of a hackathon to be hosted at the CUSO’s MōPRO Innovation Lab in St. Petersburg, FL on October 19-20. The event, dubbed KnockOut 2012, gives design teams 24 hours to produce a viable proof of concept or working demo of a service, solution or process that promises to deliver real, cutting edge value for credit unions and/or their members.

“We are passionate about bringing credit unions together for the common good of the industry,” said Michael Kelly, PSCU CEO and President. “We know there are great ideas in all corners of our CUSO just waiting to see the light of day. If the crowdsourcing approach of an event like the KnockOut leads to even just one innovative solution, all members of the credit union family win.”

Hackathons are typically all-night contests where team members collaborate to prototype an innovative product that is presented to a panel of judges to determine the “winning” idea, or the one with the greatest value.

For KnockOut 2012, PSCU judges will select up to three semifinalists, who will then have the opportunity to present their concepts to PSCU’s staff at one of the company’s employee Town Hall meetings. PSCU employees will vote to select the winning team, whose members will receive an all-expense-paid Royal Caribbean cruise. Second and third place teams will also earn prizes.

PSCU KnockOut 2012 is open to all PSCU employees and employees of the CUSO’s Member-Owner credit unions. KnockOut organizers have also arranged for competing teams to participate remotely if they are unable to travel to the company’s St. Petersburg, FL headquarters.

About PSCU

PSCU (St. Petersburg, FL) is the nation’s leading credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. A non-profit cooperative, the company is owned by nearly 700 member credit unions and offers strategic credit, debit and prepaid card solutions, industry leading fraud management and online and mobile banking and payments – all backed by 24/7/365 multi-channel member support. PSCU’s MōPRO initiative marries emerging technologies with proven strategies to empower credit unions to more effectively engage with members and enhance both revenue and market share. For more information, visit PSCU at


Jim Major, 800-443-7728 ext. 4189

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