BIRMINGHAM, AL (April 10, 2014) – For the third straight year, the Credit Union Service Centers (CUSC) of Alabama will pay a rebate and a dividend to participating credit unions. The CUSC board approved a patronage rebate program to issuers and acquirers based on the number of completed transactions in 2013. That equates to 60 percent of 2013 net income before taxes. In addition, credit unions that are shareholders in CUSC will also see a 10-percent dividend of net income before taxes.
“Shared branching is a great way to earn income and also increase your value to your membership,” said CUSC Chairman Patrick La Pine. “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.”
Participating credit unions also saw more income at the point of transaction as the CUSC board lowered the transaction fees structure by 10 cents in 2013. Alabama currently has 151 service centers in the state, which includes 25 new shared branching locations that were opened across Alabama in 2013. The CUSC of Alabama provides its member credit unions with marketing materials and a promotional video within its website. Credit union members are asked to look for the blue shared branching CO-OP logo which is new for 2014.
A shared branching message is also a part of the League of Southeastern Credit Unions and Affiliates (LSCU) Cooperative Image Campaign that has run in 2011 and 2012. This message will also be included when the campaign runs again in 2014.
The Credit Union Service Center (CUSC) of Alabama is a cooperative network of shared service centers and outlets. The network was formed to allow credit unions from within Alabama, across the country, and abroad to share facilities. Members have access to their account where they live, work, or travel in more than 5,000 locations. To learn more, visit http://www.cusc-al.com.