WHAT IS SHARED BRANCHING?

In a word—convenience. It’s a delivery channel created by credit unions to share resources—facilities or capital—in providing members with convenient locations and hours. Shared branching enables credit union members to conduct everyday financial transactions at other participating credit unions that are connected through a national switch, much like an ATM. Credit union members have access to more than 3,300 service centers nationwide, including some foreign locations. With proper identification, members can conduct common, every-day transactions, including deposits, withdrawals, funds transfers, loan payments and balance inquiries at CU Service Centers.

HOW DOES SHARED BRANCHING WORK?

Each Service Center has a computer link to the Shared Branching network. When a member initiates a transaction, the Service Center connects to the network switch, retrieving account information. The transaction is then submitted to the home credit union for processing and approval.

HOW DO CREDIT UNIONS BENEFIT?

· Member Attraction and Retention
  Gives members what they want—greater convenience with access to over 3,300
  shared branching service centers.

· Reduced Expenses
  Allows credit unions to expand their businesses without adding proprietary “brick and
  mortar” branches.

· Revenue Opportunities
  Creates revenue opportunities through additional services and may help to improve
  the credit union’s financial performance.

· Disaster Recovery
  Provides back-up locations for members if a CU branch becomes unavailable.

HOW DO MEMBERS BENEFIT?

· Convenience
  Members can access their CU accounts near where they live, work, and play at any CU
  Service Center.

· Continuity
  If life or work takes members across town or across the county, they can continue to
  use the CU of their choice without disruption in service.

· Extended Personal Service
  No matter which service center members use, they are guaranteed the same friendly
  service they have come to expect at CUs.