SAN DIMAS, Calif. – Financial Service Center Cooperative said yesterday it has agreed to provide settlement services to participants in the correspondent credit union program operated by the Information Technologies CU Association, upon the disbandment of the group.
With the dissolution of ITCUA, their remote cash access program for credit unions will now be settled through FSCC’s CIMple Settlement program. CIMple Settlement will be implemented to settle those transactions that are generated through correspondent program and to automate the process, reducing back-office workload, time, risk, and resources.
FSCC is also slated to design a website that will continue to provide information about CCUP and CIMple Settlement for participating credit unions and their members. The site will provide listings of the 350 access points that exist through correspondent program, a list of transactions that may be performed, and instructions on how to use the program.
