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CU System
ICUL Service Corp. Members United combine check processing
WARRENVILLE, Ill. (12/13/07)--ICUL Service Corp. and Members United Corporate FCU have consolidated their check-processing programs, effective Monday. The combined program is owned and operated by Members United. The service corporation had provided share draft item-processing services to Illinois credit unions as Service Corp. Item Processing (SCIP). SCIP served about 175 credit unions in the Seventh Fed District (Chicago). Eighth Fed District (St. Louis) credit unions are not affected by the consolidation. "The primary reason for this consolidation was to provide the highest possible value to member credit unions for their share draft processing needs," said David Preter, president of Members United. "It's an economies-of-scale business, and our combined large scale helps us keep costs down. This allows credit unions to continue to offer a competitive share draft product to their members," Preter said. Members United, headquartered in Warrenville, Ill., is a $12.7 billion asset corporate that serves nearly 2,300 credit unions nationwide.


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