Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CUSN study Members use shared branching
LAKEWOOD, Colo. (2/4/09)--A survey reveals that credit union members who use shared branching as a delivery channel for credit union services are among the most profitable members.
Click to view larger image Click for larger view
The survey was conducted by Lakewood, Colo.-based Credit Union Service Network (CUSN). Among the findings:
* Shared branching is an important delivery channel as evidenced by the frequency of use. Thirty-two percent of members visited shared branching service centers four or more times per month, while 27% visited twice a month. * Members continue to use shared branching as a delivery channel once they have discovered its convenience. * Users of shared branching are profitable members as evidenced by the number of accounts they hold with their credit union.
"Many of the misconceptions of shared branching are dispelled with the results," said Doug Burke, CUSN president/CEO. Respondents were asked how long theys had used shared branching service centers. Fifty-three percent reported using the centers for one to five years. Only 25% had used the service center less than a year. Those unfamiliar with shared branching often assume members use service centers primarily for withdrawals. However, when CUSN tracked financial transactions for 2008, it found that only 25% of the dollars passing through shared branches were withdrawals. Roughly 69% were deposit dollars.
Click to view larger image Click for larger view
Another common misconception--that members using the service have only one account, a share account, with their host credit union--was also dispelled. Eighty percent of members surveyed reported having two or more accounts with their credit unions, and 46% reported three or more accounts. The survey also evaluated service level at the service center. Of the respondents, 89% indicated the service was "excellent" and 11% reported it was "good." More than 1,500 members, representing 377 credit unions nationwide, responded to the survey, which was distributed through service centers in Colorado, Idaho, Iowa, Nebraska, New Mexico and Wyoming. Of the respondents, 56% were women and 44% were men. The highest percentage of respondents were from the 45-54 age group with 24%, followed by the 25-34 and the 35-44 age groups, each with 22%. CUSN is affiliated with CO-OP Shared Branching.


RSS print
News Now LiveWire
.@WOCCU's Brian Branch's visit to U.K.'s Pennine Community #CreditUnion makes @BurnleyExpress http://t.co/OEBcVbW4Cy
8 minutes ago
#CreditUnions can still register for next week's National #CUYouthWeek. http://t.co/he5jlLNcdx
30 minutes ago
Have #Bankziety about walking down the aisle? @MCUA_news has the cure. http://t.co/xBgtLY3d8r
32 minutes ago
.@NJCUL billboard @BankingYouTrust received more than 6,000 unique visits in the 1st quater http://t.co/XnJuqiCHUK
1 hours ago
With 523 shots beyond the arc @utahjazz and @MountainAmerica raise over $31k for @Huntsmancancer http://t.co/kyBqVrxjBu
17 hours ago