CU Service Network, based in Lakewood Colorado, has pledged to make a $1,000 donation to the Iowa Credit Union Foundation (ICUF) for each Iowa credit union that executes both CU Service Network issuing and CU Service Network acquirer shared branching contracts through December 31, 2014.
"CU Service Network is excited to support the Iowa Credit Union Foundation and its mission. With this pledge, we believe we have a winning scenario for Iowa credit unions, their members, ICUF and CU Service Network. We wish all a great success as we introduce this program to Iowa credit unions," said Doug Burke, President/CEO, CU Service Network.
Since its inception in 1995, ICUF has worked to eliminate poverty in the state of Iowa and help families become financially stable through the credit union movement. More than 500 individuals and families have been matched with more than $1 million through ICUF's Individual Development Account Program and more than $100,000 has been provided to credit unions, credit union leaders and their members in grants and scholarships.
"Shared branching provides access to needed financial services for Iowa credit union members. ICUF's mission to help Iowans build wealth, responsibility and independence is directly tied to breaking down barriers to needed financial services," said Jaimie Miller, ICUF Executive Director. "Our partnership with CU Service Network supports ICUF's mission while encouraging credit union growth and prosperity."
"As the CEO of Ascentra Credit Union and Board Chair of ICUF, I am excited to announce that Ascentra will be joining the shared branching network through CU Service Network. The cooperative spirit of the credit union industry is a big differentiator from our banker counterparts and Ascentra Credit Union is proud to join this network. Shared branching provides increased opportunity for credit union members to receive needed financial services, which is the core of ICUF's charitable mission. We are very grateful for this pledge made by CU Service Network and encourage other credit unions to join the network," said Dale Owen, ICUF Board Chair.
Eligible credit unions are those who have their headquarters residing in Iowa, and are a member in good standing with the Iowa Credit Union League.