Sec. 97.8. Shared service centers

Latest version.

(a) Definition.
A shared service center is a facility staffed by employees of the credit union organization which facility uses an electronic network to provide credit union banking services to members of participating credit unions and at which a principal portion of the services provided are performed by automated teller machines or similar facilities.
(b) Permitted services.
A credit union organization may offer credit union members the types of banking services authorized for electronic facilities established or shared by banking institutions pursuant to Part 73 of the General Superintendent’s Regulations.
(c) Notice.
In addition to the notice required by section 97.4(a) of this Part, a credit union shall advise the superintendent in writing of the location of all shared service centers (whether within or outside New York) prior to offering its members any services at such centers.

                    
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