The convenience that the cooperation that is Shared Branching provides is something members experience on a local scale every day. From avoiding the need to head across town to pay a loan, to a college student getting a much needed influx of cash from a parent’s deposit across the state, there are many ways that Shared Branching saves the day for CU members.
In working with the credit unions we serve each day, we get to see real “Shared Branching Success Stories” in action. For example, the importance of Shared Branching is something that members of PeoplesChoice CU, located in Biddeford, Maine, recently experienced firsthand, after an accident caused a branch to lose power. Because they were able to direct members to a nearby Shared Branch, not a single complaint was received. Such events reveal the true power of Shared Branching – happy members!
The power of Shared Branching is also evident on a larger scale – as it allows credit unions to compete directly with big banks who claim to be more convenient. The CO-OP Shared Branch Network incorporates more than 5,000 “live teller branches” throughout the country, augmented by 2,000 self-service locations. This extensive network trails only three national banks in size! The strength, scope and size of this network gives all participating credit unions, big or small, true superpowers for their members!