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.
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
Regulations of the Banking Board.
Notice. In addition to the notice
required by section
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.