Contact: Public Relations Coordinator
(800) 342-9835, ext. 8130

(January 11 - Albany, NY) – The Universal Sharing Network (UsNet) Board of Directors is happy to announce a reduction in the price of in-network member verification charges.

The decrease of in-network charges to issuer credit unions represents a 5% savings and was voted on at UsNet’s December meeting and took effect January 1, 2008.

UsNet has continued to experience significant network growth in recent years and wanted participants to share in that success. The price reduction, the second in the last four years, was the path by which the board decided to do so. It’s important to note that the reduction will not adversely impact the net revenue earned per member verification for acquirer credit unions.

"The board was unanimous in its vote for the pricing reduction," said Jim Doig, UsNet board chair and CEO of Sidney FCU. "We are grateful for all the support we receive from our network participants. Without it, the organization would not have achieved the level of success it has and we would not have been able to institute this price cut."

Currently, 46 credit unions are active network participants. Collectively they offer 97 UsNet sponsored CU Service Centers in New York, New Jersey and Massachusetts. In addition, 11 more CU Service Centers have been contracted to open during 2008.

Collectively, this growth has led to increased convenience for all participating credit union members, providing greater access to their accounts across the entire network.

UsNet (Universal Sharing Network) is part of a national network of credit unions committed to expanding services to their members through CO-OP Shared Branching. Members of participating credit unions can do business from any CU Service Center in New York State and around the U.S. – over 2,900 locations in call, covering 46 states. Additionally, shared branching is available in six foreign locations, including: Germany, Italy, Japan, Korea, Ecuador and Puerto Rico. For more information about UsNet, visit www.universalsharing.com.

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