FSCC gets automated

SAN DIMAS, Calif. – Credit union shared branch network Financial Service Centers Cooperative, Inc. (FSCC) an international shared branching has added an automated adjustment system to its shared branching network. The system automates the largely manual process of adjustments between credit unions and significantly reduces the back office workload for FSCC participants, the network said. “From what we have seen,” said Rishelle Blount, Patelco Credit Union, “this system will speed up the recovery of funds tremendously. We are pleased that FSCC took this technological approach to adjustments.” Patelco Credit Union is one of the largest shared branching acquirers on the FSCC network and one of eight FSCC credit unions currently testing the system prototype. The FSCC board of directors approved nearly a half million dollars for the new system just three months ago. The FSCC system is not reliant on a switch interface to provide adjustment processing. It is designed to maintain database information, including routing and transit numbers, transaction information, credit union information and daily funds settlement through US Central. The system has been created within a secured environment with multiple firewalls and passwords for access. FSCC is in the final phases of testing with the Corporate Network’s Automated Settlement system though US Central. The system will operate in a true ACH format and allows credit unions to settle adjustments directly.