Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Shared branches important to boomers says CO-OP
RANCHO CUCAMONGA, Calif. (1/21/09)--Shared branching is becoming increasing important in serving baby boomers and seniors, according to the CO-OP Shared Branching. "Forrester Research reports that fewer than half of all baby boomers and only 40% of seniors check their bank balances online," Carroll Beach president/chief operating officer for CO-OP Shared Branching, says in LoneStar Leaguer Jan. 20). "That's more than 39% of the country's population--some 116 million people." The two groups haven't developed a full trust in alternative forms of banking and still prefer the personal touch, Beach said. Forrester also made note of a demographic group larger than baby boomers and senior segments and which also isn't using the full range of online banking services. Except for Gen X users, many consumers who signed up for online banking still are not using the Internet to check account balances, transfer funds or pay bills. Roughly 23% of community bank customers use online services, even though they are enrolled in online banking. "As our society continues to be more on the move, shared branching is keeping up with the times--reducing credit unions' operational and branch-maintenance costs and ensuring convenience for members at any life stage," Beach said. CO-OP Shared Branching is based in Rancho Cucamonga, Calif. It represents 65% of all national shared locations and 80% of credit unions participating in shared branching.
Other Resources

RSS print
News Now LiveWire
NCUA confirmed earlier indications that there would be no National Credit Union Share Insurance Fund premium for 2014.
15 hours ago
.@NJCUL supported prized-linked savings legislation introduced in New Jersey state Senate.
15 hours ago
#creditunions emphasize co-op principles during National Co-op Month #NewsNow http://t.co/zEb9UFot1N
21 hours ago
Servicemember's spouse drives away with Bank on More's SUV thanks to #missouri #creditunions http://t.co/WvTrKxh0sV
23 hours ago
From @FHFA this a.m.: U.S. house prices up 0.5% in Aug. on seasonally adjusted basis from previous month. More here: http://t.co/1yVDOPggeX
1 Day ago