Does your credit union have members in areas your branches do not reach?
Do you lose members because someone in the family is transferred to another city or another state and you have no locations there to serve your members at an in-branch location?
Do your auditors tell you that you need a way for your members to access their funds and accounts in the case of a disaster for those members that do not use your online services or apps?
The Tennessee Credit Union League has the solution for you.
The Power of Shared Branching
Shared Branching is a program we offer for credit unions to be able to access their accounts even if they have moved away, are out of town visiting family, live in an area where you do not have branches, or are simply on vacation.
Shared Branching is a network that connects credit unions all over the country and would allow your members this type of access from just about anywhere. Our Shared Branching program, through CO-OP Financial Services, allows your members to have access to approximately 5,000 locations nationwide. With this program, you can retain those members that have to move out of state or to another city for their jobs, service members in areas you do not have branch coverage, and auditors like this option in case of a disaster in your area and your credit union are unable to serve members in case of an unforeseeable shut down of your credit union.
You have two options on this program, the first option is to be an Issuer Only, where your members can use shared branching locations for transacting on their accounts. The second option is to be an Acquirer and Issuer on Shared branching. This option allows your members to use shared branching to access their accounts and allows you to serve other shared branch credit union members at your location, thus making extra income for your credit union with the transaction fees you will earn.
Do You Want to Learn More About Shared Branching?
If you would like more information about this great program, please contact Criss Browning at 800-572-7359 ext 1251 or [email protected], David Griffiths at 800-572-7359 ext 1215 or [email protected], or Leisa Massingill, Manager Shared Branching at 800-572-7359 ext 1209 or [email protected].