Shared Branching is a type of banking service that allows you to use one or more credit unions. Usually, you can do this by using a Shared Branching locator or app. Most credit unions have a locator on their websites. You’ll need your member number, photo ID, and the last four digits of your Social Security number to complete a transaction.
Shared branching has many benefits. For example, the program allows credit union members to access their accounts at another credit union for free. This is especially convenient for people who travel and need to conduct basic banking transactions. Shared branching can also make your mobile or online banking easier to use. It can also help members who don’t have a branch nearby to do their banking.
Shared branching enables customers to do most transactions at their credit union of choice. This includes checking balances, depositing funds, making loan payments, and transferring funds between accounts. However, customers cannot cash checks, open new share certificates, or establish individual retirement accounts. Customers will need a government-issued photo ID and account number to complete transactions at the shared branch.
Shared branching also provides access to more than 30,000 surcharge-free ATMs nationwide. Shared branching is an excellent option for those who want to enjoy the benefits of a credit union but also want the convenience of a big bank. This is especially useful if you recently moved or need to use a credit union in another state.
Shared branching enables members of different credit unions to conduct member transactions at the same branch. This way, members don’t have to close their accounts when they leave the area. This allows them to visit the more convenient branch and do their banking without leaving their home or work. The best part is that shared branching is easy to implement.
A shared branch network can help you reach out to more people. For example, one national network of shared branches includes more than 1,850 credit unions and 5,700 shared branches in all 50 states. With this kind of network, over 62 million credit union members can access the services of multiple credit unions. It’s also possible to use shared branching to expand your reach and service your members.
CO-OP Shared Branch allows you to do business with ABEFCU or other participating credit unions. You can use the CO-OP locator app to access multiple credit unions with just one app. If you’re looking for more convenient ways to access your accounts and services, CO-OP Shared Branch is the right option for you.