FSCC Announces Record Patronage Dividend

SAN DIMAS, Calif. – Credit unions which are members of the Financial Service Centers Cooperative shared branching network will share in a record $1.8 million patronage dividend later this year, the network has announced. The West Coast network said it would distribute the funds in the wake of the patronage audit scheduled for April, based on the number of the network’s 40 million 2005 transactions the credit unions had acquired. Some of the credit unions could receive patronage of $200,000, the network said. In a statement to board members, FSCC CEO, Sarah Canepa Bang remarked, “By itself this dividend is significant, but when you consider all the new programs FSCC put into action in 2005, it is truly remarkable.” FSCC implemented several aggressive initiatives in 2005 including shared branch kiosks, a 24/7 custom Call Center through Digital Dialogue, a comprehensive disaster recovery program, Web-based training, and a Credit Unions for Kids gift card benefiting the Children’s Miracle Network.