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Shared Branching

Shared Branching

With Shared Branching, credit unions provide their members convenient locations to perform in-person transactions just as if they were at their home credit union. Whether at work, home, or on the go, your credit union is always nearby for your members. The Missouri Credit Union Shared Branch Network has dozens of locations across the state and thousands across the United States. By becoming a participant in the network, you have a greater opportunity to attract new members or retain existing members as they move outside your brick and mortar reach, travel, snowbird to warmer climates, or attend college.

Current banking customers are afraid they might lose convenience if they move their account from a bank to a credit union, but not if that credit union belongs to shared branching, which provides the fourth largest branch network in Missouri and nationally. Your credit union can join together and share over 5,000 locations so your members can conduct their financial transactions where they live, work and travel. The Credit Union Shared Branch network gives credit union members more options, including more locations, more hours of operation and more convenience.

The benefits of joining the Missouri Credit Union Shared Branch Network are considerable, including:

  • A shared branch transaction is about half the cost of an average credit union transaction
  • Members that use shared branching are 12 times more profitable to their credit union than members who do not. See the research.
  • Shared branching helps credit unions compete with banks
  • 97% of credit unions have less than 10 branches, and 69% have only one location, but with shared branching members have access to more than 100 Missouri locations and 5,000 branches nationally
  • Using the shared branch network provides credit unions added disaster recovery protection
  • Helps credit unions satisfy the needs of younger members, who in a recent study, were indicated to use shared branching more than members over the age of 35

Members can transact credit union business at the Credit Union Shared Branch, including:

  • Deposits
  • Withdrawals
  • Loan Payments
  • Make transfers between accounts and credit unions
  • Cash checks
  • Purchase money orders, travelers checks and official checks
  • Account balance inquiries and transaction history
  • Apply for and/or close a loan
  • And more!

Contact your MCUA field representative (listed at right) for details.

 

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