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FSCC payout nearly 500000 dividend from fund

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SAN DIMAS, Calif. (12/20/07)--Financial Services Centers Cooperative Inc. (FSCC) distributed a payout of about $500,000 in patronage dividends to shareholder credit unions Friday. The payout was from dividends generated by the 2003 revolving fund. In 2003, FSCC processed more than 11 million acquired transactions, which resulted in more than $1.2 million of patronage dividends. Friday’s payout was 40% of the total 2003 patronage dividends. The initial payment of 20% was paid March 12, 2004. FSCC plans to announce disbursement of 2007 patronage dividends by the second quarter of next year. It also expects to add 200 new outlet branches to the network, in addition to more than 2,000 V-com access points at 7-Eleven stores in September. FSCC, a credit union shared branch network, provides 5,000 full-service deposit locations in the U.S. and overseas.