BIRMINGHAM, Ala. (3/13/13)--The Credit Union Service Centers (CUSC) of Alabama will pay a shareholder dividend for the third consecutive year. The 2013 payout will be the largest to date.
"It's important to the CUSC board to reward participating credit unions with this rebate," said CUSC Chairman Patrick La Pine. "Shared branching is one of the unique ways that credit unions are different from other financial institutions. We have seen more transactions and more growth within the network. The board hopes more credit unions will see this success and help provide members with the convenience they desire."
The CUSC board approved a Patronage Rebate Program of 60% of 2012 net income before taxes. That results in participating credit unions receiving a 20% increase in the amount of the rebate from 2012. The exact amount of the rebate will be based on the credit union's percentage of total transactions during the past year.
CUSC of Alabama currently has 131 service centers statewide, which include eight new shared branching locations that were opened throughout Alabama in 2012. CUSC provides its member credit unions with marketing materials and a promotional video within its website.
A shared branching message is also a part of the League of Southeastern Credit Unions--which represents credit unions in Alabama and Florida--Cooperative Image Campaign, which has run in 2011 and 2012.