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News Now

CU System
Shared branching helps CU in conservatorship keep members
LAKEWOOD, Colo. (3/5/09)--Shared branching helped Union Pacific Streamliner FCU serve its members when the credit union was placed under conservatorship in 2006. The National Credit Union Administration took control of the credit union because of financial difficulties, causing the credit union to close two of its branches. The credit union joined shared branching through CO-OP Shared Branching’s partner, Credit Union Service Network. “I truly believe shared branching has helped us retain our membership,” said Janet Anderson, Union Pacific CEO. “I don’t think we would have come out of conservatorship without the access that shared branching has given us.” With shared branching, the credit union can serve members through more locations with extended hours, including Saturdays. “Another plus for our members is the out-of-state access,” Anderson said. “Our membership travels a great deal.” Though the credit union has one branch, its members have access to 3,600 branches through CO-OP, Anderson added.


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