Payac was established by credit unions specifically to support CU’s seeking regulatory approval and to act as a shared services facility for MPCAS. Payac is setting standards and engaging with third party service providers to achieve a viable and sustainable solution for the sector.
Payac operates on a non-partisan basis and has a single focus on MPCAS.
Currently, Payac CU’s account for 75% of the membership and asset base, eligible to apply for MPCAS approval,
Payac provides a proven process for regulatory applications that includes board and AGM resolutions and the business case for MPCAS as part of a dedicated shared service.
Payac is the only Credit Union Services Organisation (CUSO) of its kind that is directly owned and operated by participating CU’s.