Credit Unions are known to have a good reputation with the community, but they may not have many locations to access. Your credit union may offer a way to access money through a large scale of ATMs and credit unions and through the CO-OP Shared Branch network. This is perfect for those who may need to bank on the go, anywhere and anytime. CO-OP Shared Branching allows for the ability to bank on a larger scale at other credit unions as if you were at your regular credit union, without having to sacrifice the values of a credit union.

What is a Credit Union?

There is a difference between credit unions and banks. Credit unions are not-for-profit financial institutions that focus on serving their members and their local community. Credit unions aim to funnel profits back to their members and their local community. This is returned to members with reduced loan rates, reduced fees, and higher savings account rates . Credit unions serve their community through volunteering, donations, grants, scholarships, financial literacy education classes, and more!

What are the Benefits of a Credit Union?

Credit unions are member owned and prioritize the experience of their members. Being member owned allows many advantages of banking with a credit union:

  • Financial Education: Offered by many credit unions, financial education ensures members are able to have a solid financial foundation. Many credit unions offer financial education services such as online budgeting tools, online financial education platforms, and more!
  • Member Service: Being member owned, providing quality service is important. Member service focuses on providing friendly, personal and prompt service all while maintaining a good professional relationship.
  • Competitive Rates: Any profit made goes back to the community and is reinvested to its members through low fees, low loan rates, and higher dividends.

What is CO-OP Shared Branching?

CO-OP Shared Branching makes it free and accessible to bank with many credit unions across the nation in the CO-OP Shared Branch network. CO-OP Shared Branching allows the ability to bank at any participating credit union within the CO-OP network as if you were at your regular credit union. There are more than 5,000 CO-OP shared branches available nationwide. Location is no longer a deciding factor of where to bank with CO-OP Shared branching.

Benefits of Visiting a CO-OP Branch

CO-OP branches are great compliments to your regular credit union. Bank knowing that you can support credit unions while still receiving member focused experience. Here are some reasons why you may want to use the CO-OP Shared Branch network:

  • Personalized Service: Receive the same great service as your other credit union when using the CO-OP Network.
  • Convenience: Conveniently bank as if you were at your home credit union. The CO-OP Shared Branch network makes banking accessible wherever you may be.
  • Nationwide Banking Access: Just like your regular credit union, credit unions in the CO-OP network have a large number of branches available nationwide. There are more than 5,000 Shared Branches that can assist with your banking needs
  • Access to Surcharge-Free ATMs: With more than 30,000 surcharge-free ATMs in the CO-OP Network, it allows 24/7 access to your money

Why May Someone Want to Use a Shared Branch?

CO-OP Shared Branches are a great complement to your regular credit union. The CO-OP Shared Branch network ensures that you have access to your account regardless of your location. Bank knowing that you can support credit unions while still receiving a member focused experience. Here are some reasons why you may want to use the CO-OP Shared Branch network:

  • Traveling for work or on vacation and needing to manage your accounts on the go
  • Move to a new area that your regular credit union is not located at
  • Getting a loan with a credit union that is not in the same area as you
  • Needing to bank outside of your regular credit union’s business hours

What Services Does CO-OP Shared Branching Offer?

Banking at a CO-OP Shared Branch expands your ability to bank across the nation. Some credit unions may vary with what services they may offer. Prior to visiting, make sure to contact the shared branch in advance to ensure they can assist you with your request. Here are some of the services CO-OP Shared Branching offers:

  • Deposits
  • Withdrawals
  • Transferring funds
  • Cash checks
  • Making loan payments
  • Getting cashier checks
  • Checking balances

Credit unions in the CO-OP Shared Branch network simplifies the ability to bank anywhere. If you are looking for a credit union that has access to the CO-OP Shared Branch network, consider applying online today at CU1.