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UsNet reports 2013 shared branching growth

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ALBANY, N.Y. (2/20/14)--Shared branching network UsNet added four credit unions and 20 branches to its network in 2013.
 
"2013 proved to be another successful year for UsNet and our network participants," said Marc Inger, chief operating officer of UsNet. "In a changing industry and marketplace, the cooperative model of shared branching continues to create valuable benefits for credit unions and their members."
 
A combined 57 credit unions representing $34 billion in assets and 2.2 million members now participate in the network. In 2013, more than 1.1 million members visited UsNet's 196 shared branches located throughout New York, Connecticut, New Jersey, Massachusetts and Florida.
 
UsNet also distributed $27,000 in shareholder dividends, $169,578 in credit union rebates and $40,450 in new credit union discounts, also known as opportunity pool incentives last year. It was the fifth consecutive year that UsNet member credit unions and shareholders received the distributions.