SOUTHFIELD, Mich. – Dan Balagna, the one and only CEO, so far, of the Service Center Corporation, the nation's oldest national shared branching network, retires officially as of December 31. Affiliated with Michigan credit unions since the age of 19, Balagna rose through the ranks of the Michigan Credit Union League until becoming chief financial officer in 1976. He held that position until 1981, when he took up the position as CEO of the then fledgling SCC, a shared branching effort founded by three Michigan credit unions. In addition to helping create the first shared branching network, Balagna helped guide an industry which eventually grew to three interlinking nationwide shared branching networks which recently claimed 10% of credit unions, nationwide, as participants.
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