Shared Branch Pioneer To Retire

Dan Balagna, the father of shared branching, announced his retirement Wednesday after 40 years in the credit union movement. Balagna, 59, began his career with the Michigan CU League in 1963 as an auditor, then helped pioneer the concept of shared branching with Service Centers Corp. in 1975.

As head of SCC since 1981 Balagna helped build the national shared branching network and to create the first national electronic switch for CUs. SCC was merged in the CO-OP Network in 2002.