BIRMINGHAM, Ala. – For the second straight year Credit Union Service Centers of Alabama will pay a shareholder dividend.
The shared branching network’s rebate program returns 40% 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 currently has 124 service centers for credit union members to utilize shared branching. In 2011, 10 new shared branching locations were opened across Alabama.
