(Albany, NY) – Credit union service organization UsNet, a provider of shared branching solutions, has added the Ithaca-based Alternatives Federal Credit Union to its shared branching network.
The $90 million community development credit union, which was chartered in 1979 and currently serves 9,700 members, has joined the network as both an acquirer and issuer. Under the agreement, members of other credit unions in the network will be allowed to perform transactions at Alternatives FCU's branch. Conversely, members of Alternatives FCU will be permitted to perform transactions at other participating credit unions.
"We are excited and proud to carry on the co-operative tradition of the shared branching network," said Alternatives FCU CEO Tristram Coffin. "We firmly believe that partnering with UsNet will benefit the members of Alternatives FCU, as well as the thousands of members at participating credit unions throughout the country."
Alternatives FCU is the first Ithaca-based credit union to join UsNet and is the only shared branching participant in the New York Credit Union Association's Finger Lakes Chapter.
"UsNet is pleased to extend our shared branching services to the members of Alternatives FCU," said Edward Kovalefsky, UsNet's senior vice president and chief business officer. "We look forward to expanding the network and serving credit union members in the Finger Lakes region."
About UsNet: Universal Sharing Network (UsNet) empowers credit unions to expand their reach through participation in shared branching. As a partner of CO-OP Shared Branching, UsNet offers credit unions and their members access to more than 5,500 Shared Branch locations in and beyond the U.S. For more information, www.universalsharing.com.