FOR IMMEDIATE RELEASE

Contact: Micah J. Parker
Communications Manager, FSCC
(888) 372-2669 ext.1239
mparker@ fscc.com

More Members than Ever Utilizing Shared Branching
FSCC Network reports record transactions and dollars for 2010.

Ontario, Calif.—(February 1, 2011) — Officials at FSCC (Financial Service Centers Cooperative Inc.) have announced an all-time high for dollars and transactions processed through its shared branching network in 2010. The dollars processed through FSCC reached totals of just over $8 billion. Dollars processed in 2010 were 8.7 percent over 2009 totals and 3.4 percent over 2008 totals.

December alone reached a new record for FSCC credit unions with nearly three quarters of a billion dollars processed through the network. The actual number of transactions grew at a similar rate of 8.3 percent over 2009 totals.  2010 issued and acquired transactions for the network totaled more than 66 million--an 8.3 percent increase over 2009.

The growing number of transactions and dollars may indicate a wider awareness of shared branching by members in general.  “Despite some closures of high volume branches due to economic conditions, we’re seeing transactions grow at a record pace,” says Bonnie Kramer, EVP/ COO at FSCC. “It’s clear that once members understand shared branching, they really appreciate the convenience.”

On a related note, FSCC officials also point to the network’s efficiency in processing those transactions.  On December 22, 2010, FSCC earned The Cobra Strike Team Award from GonzoBanker, for “incredible productivity" from a team of a mere 26 people.

When asked to comment on these new records, Sarah Canepa Bang, CEO/President  at FSCC, said, “I’m thrilled with the record-breaking numbers, but more so with what they represent. Members! Lots and lots of members using and loving shared branching. They represent time saved in the busy lives of moms and dads. It’s no wonder that our ‘strike team’ at FSCC works so hard, when the rewards are so great.”

About FSCC (Financial Service Centers Cooperative, Inc.)

FSCC is the nation’s largest and most convenient credit union Shared Branching Network providing over 6,500 full service deposit-taking locations in all 50 states. FSCC’s can be summed up in three words: Connectivity, Continuity, and Convenience. Dedication to all three of these values inspired FSCC to create the Collaborative Innovation Model, or CIMple, bringing to the table a full suite of electronic and personal member service tools. FSCC is also the innovator behind 24/7 shared branching at more than 2,200 7-Eleven® Vcom® units. FSCC credit unions represent $144.8 billion in total assets and 12.2 million members. Since 1999, FSCC has returned over $14.5 million to its members through patronage dividends, rebates and return of capital. For more information, please visit http://www.fscc.com or call 888-372-2669 ext. 1236.

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