Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Ala. CUs to receive 3rd-straight shared branching dividend
BIRMHINGHAM, Ala. (4/14/14)--Credit unions participating in the Credit Union Service Centers (CUSC) of Alabama will receive patronage rebates and dividends for the third year in a row this year, the credit union service organization announced Thursday.

Any program issuers or acquirers will receive patronage rebates from CUSC through revenue generated by total transactions over 2013, or 60% of the organization's income, before taxes. Participating credit unions also will receive a 10% dividend of net income.

"Shared branching is a great way to earn income and also increase your value to your membership," said Patrick La Pine, CUSC chairman. "Seventy percent of 2013 net income before taxes is being returned to credit unions. The CUSC network would not be as strong as it is without participating credit unions. To be able to offer a rebate and patronage dividend for three years shows that shared branching works."

Credit unions also received a boost in income for their involvement in the shared-branch cooperative last year, as CUSC reduced the transaction fee structure by 10 cents. 

With 25 new credit unions in the mix in 2013, the network now features 151 service providers, all of which can now be identified with the cooperative's new logo.  

The network allows credit unions throughout Alabama, across the nation and abroad to share facilities and provide even more services and access to their memberships.

Through the co-op, members have access to their account in more than 5,000 locations.


RSS





print
News Now LiveWire
Through the snow, be on the lookout for a @CU4Kids @CMNHospitals @COOPFS billboard in @TimesSquareNYC this week
4 hours ago
.@CUNA , trades unite to urge Congress on #datasecurity action http://t.co/gzmZGX9nfF
7 hours ago
State of Wash. @dficonsumers has expanded its CAMEL ratings to include an "S" for interest-rate sensitivity.
8 hours ago
.@HUDgov tweets: Be sure to tune in tonight to watch @SecretaryCastro on @TheDailyShow with Jon Stewart http://t.co/B1L23NQaoJ
8 hours ago
.@NJCUL Southern Chapter meeting canceled due to the impending snowstorm
8 hours ago