Eight credit unions in this market have joined together to break ground on a new shared service center that will be part of the Credit Union Service Company of Virginia, LLC. CUSCV will build the 3,200- square foot facility primarily to serve the members of 1st Advantage FCU, Fort Monroe CU, Hampton Roads Educators' CU, Langley FCU, Newport News Municipal Employees Credit Union, Newport News Shipbuilding ECU, Virginia CU, and Virginia Educators' CU. Members of the national shared branching network will also be able to use the service center. Langely FCU's Greg Manswiler, chairman of CU Service Co., said the credit unions have been investigating the idea for a decade. It is estimated up to 35,000 members will be able to use the facility.
Owned by 53 Virginia CUs, the Credit Union Service Company of Virginia, LLC currently operates ninesuch shared branches in the state. For info: www.cuscva.org
-From CU Journal Staff Reports