CU Service Centers
Encyclopedia
CU Service CentersCU Service Centers (commonly known as (shared branching) is an organization
of credit union
s that allows members of participating credit unions to process transactions at any participating branch. As of September 2011, the network included 4,372 participating locations. While mostly composed of US based credit unions, the network is international.
Organization
An organization is a social group which distributes tasks for a collective goal. The word itself is derived from the Greek word organon, itself derived from the better-known word ergon - as we know `organ` - and it means a compartment for a particular job.There are a variety of legal types of...
of credit union
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
s that allows members of participating credit unions to process transactions at any participating branch. As of September 2011, the network included 4,372 participating locations. While mostly composed of US based credit unions, the network is international.
Transactions
While the transactions can vary by office, some may have fees based on an established schedule, they generally include:- Deposits
- Withdrawals
- Loan payments
- Make transfers between accounts
- Purchase money orders, travelers checks and official checks