CU*NorthWest announced that it now offers FSCC Shared Branching for both issuer and acquirer as native solutions within the CU*BASE core processing platform at no additional cost.
Free is a powerful word in these trying economic times and this investment on the part of our extended network of CUSOs will give every credit union an opportunity to participate says CU*NorthWests CEO, Greg Smith. The ability for a credit unions members to use branches across the United States can now be an affordable reality for any credit union.
Working with its cuasterisk.com partner CUSO CU*Answers, CU*NorthWest has not charged anything for the software development, testing, certification or implementation and will offer the ongoing FSCC service with no additional fees.
This is truly a revolutionary offering and one we feel marks yet another milestone in demonstrating the difference of our business model and the industry commitment of the cuasterisk.com network of partners, continues Smith.
CU*BASE already contains native shared branching capability for credit unions within the network but now offers a native solution for national shared branch networking through FSCC. CU*NorthWest will capitalize on an agreement reached between CU*BASE owner CU*Answers and FSCC to allow for both shared branch networks to exist simultaneously without subswitching contract restrictions. In addition, FSCC has agreed to waive subsequent certifications and the associated costs now that the product is fully integrated and certified to CU*BASE.
As an additional feature, the FSCC shared branch transactions are now included in all BSA tracking within the CU*BASE core product making it one of the first products to extend BSA monitoring to aggregated network activity in addition to native transactions.
CU*NorthWest has offered the FSCC interface for some time with an upfront cost and ongoing transactions fees but with the new release of CU*BASE all costs are waived.