Credit Union joins network

WILBRAHAM ValleyStone Credit Union has announced that it has joined the FSCC Shared Branching Network enabling their credit union members to conduct their financial transactions at over 2,000 branches in the United States and six foreign countries. ValleyStone is the first credit union in Western Massachusetts to join the Shared Branching Network.

ValleyStone Credit Union recently entered into an agreement with FSCC, Financial Service Centers Cooperative, Inc. of San Dimas, Calif.

FSCC is a cooperative shared branching network, owned and controlled by credit unions. It has created a nationwide delivery system for credit union members through a unique concept for improving location needs.

"This is an exciting time for us and all of our members. The access we will soon be able to offer our members is extensive," stated James P. Nagy, President/CEO ValleyStone Credit Union.

"In today's world convenience for those who travel, those who move, and those on the go, is of extreme importance, and we feel great about the practicality of this service for our members," he added.

The system and process are expected to be in place in September 2006.

FSCC CEO, Sarah Canepa Bang commented, "We are delighted to have Valleystone Credit Union as part of the FSCC shared branch network. Their participation not only provides expanded access for ValleyStone CU members, it also demonstrates their commitment to the credit union ideals of cooperation and people helping people."

ValleyStone Credit Union members will now be able to conduct their financial transactions at the hundreds of other shared branches across the country through FSCC's user-friendly teller system which connects through a data switch, directly to each participant's credit union data processing system.

This process simulates the member actually being in his or her own credit union's lobby. The members will not pay an additional fee for their transactions at shared branch locations. ValleyStone Credit Union members will be able to locate branches throughout the country through the website

Bonnie Doolin, League Shared Branching liaison, stated that, "The addition of ValleyStone to the Shared Branching network is a key development. Now members will have shared branches available to them from Cape Cod north through the state of New Hampshire, and from Boston west to Chicopee.

Benefits to the credit union itself include the ability to deliver services very efficiently; the economic advantages for the credit union membership of building fewer branches; and the use of this network to support the industry in a time of disaster which became very prominent in the days and months following Hurricane Katrina in the New Orleans area.

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