IRMO, S.C. (6/6/11)--Palmetto Cooperative Services and Cooperative Services Inc., have merged their item-processing operations, creating a new company called PCSi. The merger formalizes a long-standing relationship between the two similar-sized payment-systems providers. “Our processing services and image-based solutions have evolved to the point where we felt our item processing unit needed its own identity,” said Palmetto Cooperative Services CEO Ed Culpepper. “The merger of our item processing operations with Cooperative Services Inc. doubles our volume and increases our efficiency, which will allow us, in some cases, to pass along savings to our customers of up to 20%.” A logo for the new brand--three lime-green concentric squares in forward motion--was also unveiled with the announcement. PCSi will serve credit unions and banks in 20 states.