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FSCC convention highlights shared branching

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SAN DIMAS, Calif. (7/6/09)--Financial Service Centers Cooperative (FSCC) highlighted shared branching during its Credit Union Retail Delivery Convention last month in Las Vegas. FSCC President/CEO Sarah Canepa Bang noted Credit Union National Association (CUNA) surveys indicating that more than 60% of credit union members would use a shared branching location if it were available. About 98% of Generation Y and Generation X age groups said they would use shared branching. She also noted that 61% of consumers say they frequently use online bill pay, and 59% use online banking. “We can expect growth in online banking, Internet bill payment, and debit card transactions to continue to be strong and only moderate growth in ATM and audio response,” Bang said. FSCC’s 7-Eleven Vcom units have experienced transaction increases as credit unions direct their members to the access points. The average deposit is $600, and the average withdrawal is $126. The average transfer is $318, and the average payment is $461, FSCC said. “Since January, there has been a 13% growth in transactions week over week at the 7-Eleven locations,” Bang said.