Credit Union Service Centers (commonly known as shared branching) is an
organization
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose.
The word is derived fro ...
of
credit union
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision ...
s that allows members of participating credit unions to process
transactions at any participating
branch
A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term '' twig'' usually ...
. 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
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that ...
payments
* Make
transfers between accounts
* Purchasing
money orders
A money order is a directive to pay a pre-specified amount of money from prepaid funds, making it a more trusted method of payment than a cheque.
History
The money order system was established by a private firm in Great Britain in 1792 and was ...
,
travelers checks and official
checks
Notes
External links
CU Service Centers
Credit unions of the United States
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