Archive

Go to:

August 2017
SMTWTFS
12345
6789101112
13141516171819
20212223242526
2728293031
< Jul Sep >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

The Power of Cooperation
Tuesday, April 21, 2015 6:15 AM

This past year, CO-OP Shared Branch passed Chase Bank as the 3rd largest financial institution branch network. When the Shared Branch Network started in the early '90s, the vision was to build a network that would allow credit unions to better compete with big banks. Now over 1,800 credit unions and millions of credit union members have access to over 5,400 Shared Branch locations. With the current growth path, the Shared Branch network could take the second position in 2016.

US Banks Vs. Credit Union Branches

Sean M. Cahill, president and CEO of Southwest 66 Credit Union in Odessa, said, "Shared Branching has been a great benefit to our members and the local community in the Permian Basin. It has also provided us a key differentiation when competing with the larger banks in our markets. Members have seen tremendous value and flexibility in having this service available to them."

The Shared Branch model is a true testament of the cooperative spirit of the credit union movement and supports the CU philosophy "not for profit, not for charity, but for service." Credit unions realize that Shared branching provides the convenience that is demanded to achieve primary financial institution (PFI) status.

Mike Riepen of Texas DPS Credit Union in Austin said, "Shared branching has given our Credit Union a competitive Advantage in Convenience and Member Retention. Our members are able to conduct credit union business all across the country. Several of our members that have moved out of state have remained being members because of Shared Branching."

While members have a plethora of banking options, they select credit unions for the personal touch and the value offered through better rates and lower fees. In addition, members, and more importantly potential members, place a high value on convenience. To this end, a credit union can expand convenience, enhance service offerings, and deepen member relationships by joining CO-OP Shared Branching.

For more information, please contact Brian McCue at bmccue@curesources.coop or by calling (800) 442-5762 x 6426.