Press

Alabama Shared Branching Network to Pay Credit Unions Rebate and Dividend in 2013

BIRMINGHAM, AL (March 12, 2013) – For the third straight year, the Credit Union Service Centers (CUSC) of Alabama will pay a shareholder dividend. The 2013 payout will be the largest to date. The CUSC board approved a Patronage Rebate Program of 60 percent of 2012 net income before taxes. This means participating credit unions will see a 20-percent increase in the amount of the rebate from 2012. The exact amount of the rebate will be based on the credit union’s percentage of total transactions in the past year.

“It’s important to the CUSC board to reward participating credit unions with this rebate,” said CUSC Chairman Patrick La Pine. “Shared branching is one of the unique ways that credit unions are different from other financial institutions. We have seen more transactions and more growth within the network. The board hopes more credit unions will see this success and help provide members with the convenience they desire.”

CUSC of Alabama currently has 131 service centers in the state, which includes eight new shared branching locations that were opened across Alabama in 2012. The CUSC provides its member credit unions with marketing materials and a promotional video within its website. Credit union members are asked to look for the swirl.

A shared branching message is also a part of the League of Southeastern Credit Unions (LSCU) Cooperative Image Campaign that has run in 2011 and 2012.

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.

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