Information on Credit Union Service Centers
Since credit unions are local and usually only have a few branches, it makes it harder to use their services. Therefore, credit unions have set up a service center. A service center is a site where you can find another credit union located near you. Any credit union that participates in shared branching---see below---is a part of the credit union service center.
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Credit Unions
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A credit union caters to its members, since its members own the credit union. A specific tie draws these members together, such as an employer, religion or community.
Shared Branching
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Credit unions around the country have set up shared branching so members can use a credit union no matter where they are. In other words, if your credit union is in New Jersey, you can find a credit union in California that offers shared branching.
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Deposits and Withdrawls
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Using the credit union in California that offers shared branching, you can make a deposit to your account or a withdrawal from your New Jersey credit union account at their office. Depending on the rules of deposit of your New Jersey credit union, the same rules apply when you make the deposit at the California credit union.
Identification
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In order to make a transaction at the California credit union you need to give your New Jersey credit union name and account number. In addition, you need to show identification, such as a driver's license or a government-issued photo identification.
Availability
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With credit union service centers, credit unions have made it possible to have a branch on almost every corner. Since this has made it more convenient to its members, credit unions are growing in number. This helps all members of the credit union.
Other Transactions
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Any transaction you can conduct at your credit union, you can do at a credit union that has shared branching. You can make loan payments, purchase money orders and make transfers between accounts at a credit union service center.
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