ST. PAUL, Minn. (2/5/09)--Minnesota expanded the number of its Shared Branching locations to 27 after St. Paul (Minn.) FCU added two new locations to the network.
“The Shared Branching network is expanding throughout the nation, and the growing number of service centers in Minnesota reflects that trend,” said Peter Skaalen, Minnesota Credit Union Network (MnCUN) executive vice president. Shared Branching allows credit union members to use other credit unions to conduct transactions similar to those they conduct at their home credit union. There are more than 3,500 service centers nationwide, allowing credit unions to compete with the largest banks in the U.S., MnCUN said. “While other financial institutions may be closing branches, Shared Branching is continually adding to the number of service locations that its participants can use to serve members,” Skaalen added.