What is the ICUL Service Corporation?
The ICUL Service Corporation is a business corporation that provides EFT, credit, debit card products, clearing and loan services to credit unions in Illinois and 45 other states. It is a subsidiary of the Illinois Credit Union League, a trade association for Illinois credit unions. The Illinois Credit Union League is the parent organization and primary stockholder. Members United Federal Credit Union (minor stockholder) & Illinois credit unions are capital investors in the League Service Corp. Investors receive a rate of return equal to the Two-year Treasury rate (adjusted bi-annually).
The ICUL Service Corporation is a CUSO (Credit Union Service Organization) serving over 1,500 credit unions in 45 states.
What the ICUL Service Corporation does.
The ICUL Service Corporation functions as a co-operative for its credit union customers. It provides specialized services, which will help credit unions compete in the financial marketplace. Generally, its processing fees are lower than other providers. It is the largest organization of its kind in the United States and serves nearly 1,500 credit unions in 45 states.
The ICUL Service Corporation operates an ATM network, a credit and debit card processing facility, a collection agency, and an insurance agency.
Mission Statement
We, as the financial and support system of the credit unions, are committed to the "people helping people" concept of credit unions as cooperative financial institutions. Our purpose is to provide credit unions with a favorable operating environment and quality information, products and services which have value and which enable credit unions to exist, compete and prosper in the financial marketplace.