Modern shared branching is aimed at providing credit union members convenient access to their accounts using existing credit union branch locations and shared technology. Transactions are transmitted from branch to branch in a manner similar to that of an ATM network. Through strategic cooperation, credit unions have joined together to create a dynamic and innovative solution to the need for convenient access points for credit union members, without taking on the expense of building many new branches.
CO-OP Shared Branching and the League can help a credit union serve a member vacationing in Texas (and many other locations) by allowing him to transact business over the counter at a participating shared branching credit union displaying the CU Swirl™ symbol. The member merely gives the proper credit union name to the teller, who then pulls up the corresponding credit union. In the same time it would take for your own teller to make the deposit, the transaction is completed. Deposits, withdrawals, loan payments, and inquiries are all available to members of participating credit unions wherever they are in 39 of the United States and also in Puerto Rico, Guam, South Korea, Japan and Italy. New locations are being added every day.
CO-OP Shared Branching, the League’s Shared Branching network partner, has made the process of linking to 900+ credit union branches easy to understand and easy to accomplish. This network of shared facilities is a financially attractive alternative to building your own new branches. Credit unions using the system have also found that it is a powerful member-retention tool.
For information about how your credit union can benefit from today’s Shared Branching solution, email Dean Martino, CCUA Director of Business Development, Sales and Service at DMartino@CCUA.org or call 1-800-842-1242 ext 315. Also, check out the CO-OP Shared Branching website.
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