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FSCC cuts prices on shared mobile banking
ONTARIO, Calif. (4/29/11)--Shared-branching network Financial Service Centers Cooperative Inc. (FSCC) will reduce the price of MyCUAnywhere text banking transaction pricing beginning Monday. MyCUAnywhere transactions will be reduced to 35 cents per transaction. “The rapid acceptance of the product is what is making this price reduction possible so soon after the product launch,” said Bonnie Kramer, FSCC executive vice president. “We launched just over a month ago and member acceptance has been well beyond our projections.” FSCC credit unions pay no set-up fees, no monthly maintenance fees and no minimum monthly usage fees for MyCUAnywhere. Credit unions only pay per-member transaction. Because there is no FSCC branding on the service, a credit union can adopt the service as its own. MyCUAnywhere uses secure, short message service/text banking technology to access account information, including balances, transaction history, loan status and funds transfer. There are more than 292 million cell phones in use in the U.S., of which 98% have texting capability, according to Cellular Telecommunications Industry Association. Last year, 1.81 trillion texts were sent.


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