|
1993 |
CSC, Inc., II (operating as the New York State
Shared Service Centers or NYSSSC) was formed as a Credit Union Service
Organization. A total of 58 credit unions originally purchased 135 shares of
stock. The purpose of the organization was to provide participating credit
unions and their members an ability to process transactions at convenient
"stand-alone" locations placed strategically throughout New York state.
Four stand-alone centers were constructed in Vestal,
Amherst, Newburgh and Melville, New York. |
|
1996 |
After three years of operating four stand-alone
facilities, the Board of Directors reached the decision that the organization
needed a new mission. Management was directed to evaluate selling the four
stand-alones and converting them to licensed CU Service Centers owned by one or
more credit unions. |
|
1997 |
CU Service Centers began to appear in place of
stand-alones. This pursuit of the CU Service Centers philosophy enabled the
organization to promote shared services throughout New York. At the same time,
the Vestal and Melville facilities remained open while the Amherst and Newburgh
facilities were closed. |
|
1999 |
The Vestal Shared Service Center was sold to Visions
FCU, where the facility is operated today as an Outlet. |
|
2001 |
As a result of the company’s decision to completely
transform itself into a CU Service Centers environment, the Melville Shared
Service Center was sold to Bethpage FCU. Today, Bethpage FCU operates the
facility as a CU Service Center. |
|
2002 |
Participating credit unions benefited from enhanced
technology and decreased fees as a result of CUSC’s new Next Generation Network
Switch. |
|
2004 |
New York State Shared Service Centers’ legal and
corporate name was changed to Universal Sharing Network (UsNet) as a way to
separate itself from its product identity and allow for new growth
opportunities. |
|
2007 |
In June of 2007, CUSC and CO-OP Financial Services (CO-OP FS) completed an agreement to combine operations, resulting in a new organization that represents 80 percent of the country’s shared branching participants, 40 states, 100 percent of existing stand alones, 1,680 branches and 75 percent of shared branching transactions. |
|
2008 |
There currently are 93 UsNet sponsored CU Service Centers operating in New York, 3 in Massachusetts and 1 in New Jersey. Fifty-two locations are spread out over Long Island, 2 in the Southern Tier, 5 in Buffalo, 20 in Rochester, 4 in Metropolitan, 4 in Westchester/Rockland, 3 in Central New York and 4 in Niagara. |
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