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News Now

CU System
CO-OP Shared Branching surpasses Wachovia now No. 2
ATLANTA (9/3/08)--CO-OP Shared Branching locations has topped 3,400, which means CO-OP is second only to Bank of America for the most banking branches in the nation. CO-OP surpassed Wachovia's 3,305 branches this week.
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Branches continue to be an essential element of the delivery channel mix for members desiring face-to-face interaction, said CO-OP. According to statistics from the American Bankers Association, even with the advent of Internet banking, 92% of members use a branch at least once a month to conduct a transaction. "Despite the rise of new technologies, members still consider physical locations a top priority in the selection of a primary financial institution," said Carroll Beach, president/chief operating officer of CO-OP Shared Branching. "With the growth and cooperation of shared branching, credit unions are on an even playing field to meet member demand for access closer to work or home while avoiding the capital expense of building proprietary brick and mortar," Beach added. So far this year, CO-OP Shared Branching has added 75 credit unions, accounting for 84% of new participants through all shared-branching providers.


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