Press
Alabama Shared Branching Network pays credit unions rebate and dividend for 2014
- Rebates and dividends total $147,000
- This is the fourth straight year for a rebate and dividend
Birmingham, AL (April 10, 2015) — The Credit Union Service Centers (CUSC) of Alabama will pay a patronage rebate and dividend for the fourth straight year. The patronage rebates and dividends are based on 2014 transaction volumes. The rebates for both issuers and acquirers will be 30 percent of net income before taxes (NIBT), for a total payout of 60 percent and 10 percent of 2014 NIBT before rebates for shareholder dividends. Total rebates and dividends paid out for 2014 total more than $147,000.
“Shared branching works and we’re continuing to see that credit unions are getting value from issuing and acquiring transactions,” said CUSC Chairman Patrick La Pine. “To be able to issue a rebate and dividend for four straight years shows that credit union members appreciate the convenience. Plus, it’s another way to show members that credit unions are unique.”
CUSC of Alabama currently has over 150 shared branching locations in the state. The CUSC of Alabama network performed 3,691,798 Issuer transactions and 2,089,781 Acquirer transactions in 2014.
CUSC provides its member credit unions with marketing materials and a new promotional video within its website.
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.