SAN DIMAS, Calif.– Financial Service Centers Cooperative said yesterday it will pay a $1.1-million patronage refund to credit unions participating in its shared branch network for transactions performed during 2008.
The dividends will be distributed to participating credit unions following the completion of FSCC’s annual audit this spring, and will be paid out for acquired transactions performed in their branches and shared branch kiosks owned by the credit unions.
This year’s payout is down slightly from last year’s of $1.2 million.
FSCC said the payouts will be based on acquired transactions. "This dividend rewards those credit unions that are committed to providing shared branching to millions of members nationwide," said CEO Sarah Canepa Bang, in a statement.
