Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CSCU returns 100 Visa IPO proceeds to CUs
CLEARWATER, Fla. (9/24/08)--Card Services for Credit Unions (CSCU) announced that it will distribute a special mid-year Visa initial public offering (IPO) patronage dividend worth $28.9 million--100% of what CSCU received from Visa. The distribution will be made this month. CSCU will base its distributions on volume from the inception of CSCU in 1989 through December 2005. About 2,600 credit unions will be included in the distribution--an average of $11,100 per credit union. “We also are exploring options to allow member credit unions to invest their Visa IPO windfall back into the product that generated the proceeds in the first place--their card portfolio,” said Robert Hackney, CSCU president. “Some credit unions might consider converting primarily classic card portfolios to platinum, since they generate 80% more revenue per account.”


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
1 Day ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 Day ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
1 Day ago