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FIRST NETWORK BRANCH OF SHARED CREDIT UNION SYSTEM OPENS IN SUNNYVALE

FIRST NETWORK BRANCH OF SHARED CREDIT UNION SYSTEM OPENS IN SUNNYVALE
 SUNNYVALE, Calif., Sept. 18 /PRNewswire/ -- Sunnyvale has become home to the first CU Service Center in the Santa Clara County, the eighth of some 100 branches to be introduced statewide over the next four years. Simply put, CU Service Center is a shared credit union branch office representing most major credit unions. Valley Credit Union was one of only five to be selected thus far to serve as host to the center, located at 1270 Oakmead Parkway.
 The concept of shared branching is being watched very closely by financial industry analysts. Rather than each credit union operating autonomous branch offices in the same community, CU Service Center brings them all under one roof, providing neighborhood access to many financial services at hours most financial institutions are closed.
 "The branch is live on-line with most member information from each credit union," said Anthony Jones, senior vice president at Valley CU, which is host to the service center. "Transactions are handled just as they would be in each credit union's home branch, giving the members access to many of the same services they would have in their own branch but with unprecedented convenience."
 All CU Service Centers assist members with deposits, withdrawals, loan payments, transfers, account inquiries, statement printing and more. The office is open from 9 a.m. to 7 p.m., Monday through Friday and from 9 a.m. to 5 p.m. on Saturdays.
 More than 35 prominent credit unions in the state are currently participating in the program, and more are joining daily. In Santa Clara County, members from the following locally officed credit unions are now able to use any CU Service Center across the state: Valley Credit Union, American Electronics Association, Embarcadero Federal, SAFE America, Patelco and Golden One.
 Northern California CU Service Center offices are located in Sunnyvale, Concord, Walnut Creek and Hayward. In Southern California, offices are located in Fountain Valley, Victorville, Anaheim, Woodland Hills and Lakewood. One hundred additional centers are slated to open across the state during the next four years.
 -0- 9/18/92
 /CONTACT: Anthony Jones, senior VP, Valley Credit Union, 408-955-1302; or Sharon Chapo of Chapo Marketing Communications, 619-523-0907, for Valley Credit Union/ CO: Valley Credit Union ST: California IN: FIN SU:


BP-LS -- SD001 -- 1081 09/18/92 11:45 EDT
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Publication:PR Newswire
Date:Sep 18, 1992
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