WARRENVILLE, Ill. — ICUL Service Corporation and Members UnitedCorporate Federal Credit Union consolidated their check processingoperations as of Dec. 10. The combined program is owned andoperated by Members United.
|The Service Corporation had been providing share draft itemprocessing services to Illinois credit unions under the businessidentity of Service Corporation Item Processing and servedapproximately 175 credit unions in Seventh Fed District (Chicago).Eighth Fed District credit unions (St. Louis) were not affected bythis consolidation.
|“The primary reason for this consolidation was to provide thehighest possible value to member credit unions for their sharedraft processing needs. It's an economies-of-scale business, andour combined large scale helps us keep costs down. This allowscredit unions to continue to offer a competitive share draftproduct to their members,” said David Preter, Members Unitedpresident.
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