PALM BEACH GARDENS, Fla.– Florida Credit Unions Shared Services, a CUSO that provides the state of Florida with shared branching network services, has announced a $678,242 Patronage Rebate and Dividend to its participating CUs and stockholders.
"This cooperation and collaboration between credit unions is what truly makes our industry unique,” said Allan Prindle, chairman of the board, in a statement.
The 2016 rebate was an increase of 12.5% from the previous year providing a total of $8.8 million dollars in aggregate back to its participants and shareholders.
The Florida Network currently has 338 shared service facilities connected to its gateway, giving members access to more than 5,500 shared branch locations nationally represented by over 1,800 credit unions that participate in shared services. Florida Credit Union Shared Services, Inc. was established in 1992 and is wholly owned by 33 Florida credit unions.