Shared branching among credit unions has turned 30. Service Centers Corporation (SCC), which opened the nation's first shared branch in 1975, noted that at the time no one knew if the concept would succeed. The concept began with five participating Detroit-area credit unions and one shared branch location in Riverview, Mich. In 1999, SCC joined with Financial Service Centers Cooperative and Credit Union Service Corp. to become an equal partner in Credit Union Service Centers Network Inc. (CU Service Centers), the national shared branching network organization. Today, CU Service Centers are located in 41 states and five countries with more than 1,900 locations. In 2002, SCC became a CO-OP Network subsidiary, creating a national platform for SCC expansion under the industry's largest credit union EFT provider.
For info: www.servicecenters.org.
