Contact: Mike Bridges – Vice President, Marketing and Communications 850.558.1022 mike.bridges@lscu.coop www.twitter.com/LeagueofSECUs
Alabama Shared Branching Network to pay Dividend for Second Straight Year -
CUSC board also approves a Patronage Rebate Program
Birmingham, AL – Dec. 9, 2011 – In a sure sign that credit union members enjoy the convenience of shared branching, the Credit Union Service Centers (CUSC) of Alabama will pay a shareholder dividend in 2011 for the second straight year. Also at its October meeting, the CUSC board of directors approved a Patronage Rebate Program for its participating credit unions. The patronage program will rebate 40 percent of 2011 net income before taxes to participants based on the participating credit union’s percentage of the total transactions for the network in 2011. “The ability to institute this dividend and patronage rebate program validates the business model that CUSC of Alabama has put in place,” said CUSC Chairman Patrick La Pine. “Credit unions see the value of shared branching and they have been a cornerstone of the success of the company. The board felt it was important to reward those credit unions that have contributed to the success of the organization. We also hope it spurs more credit unions to consider offering shared branching.” CUSC of Alabama currently has 124 service centers for credit union members to utilize shared branching. In 2011, 10 new shared branching locations were opened across Alabama. The CUSC unveiled a new website and marketing materials for credit unions in 2011 to help raise awareness about shared branching and its convenience. Credit union members are asked to look for the swirl. A shared branching message was also part of the League of Southeastern Credit Unions (LSCU) Statewide Image Campaign that ran in September, 2011. 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 4,300 locations. To learn more, visit http://www.cusc-al.com. ###