Skip to main content

CO-OP SHARED BRANCH SURPASSES BANK OF AMERICA IN NUMBER OF BRANCHES

Credit Union Shared Branching Network Now Third Among Financial Institutions

RANCHO CUCAMONGA, Calif. (June 8, 2015) - CO-OP Shared Branch has surpassed Bank of America in number of branch offices, and is now the nation's third largest network of financial institution branches, according to data drawn from the FDIC.

CO-OP Shared Branch comprises 5,341 branches, compared to Bank of America's 5,244 branches. The figures were compiled by CO-OP Financial Services on May 19, 2015, and retrieved from the FDIC's "Find Banks" page at www2.fdic.gov/idasp/main.asp.

"We have achieved a significant milestone by reaching more than 5,300 branches, but the sky is still the limit for our industry's unique shared branching concept," said Stan Hollen, President/CEO, CO-OP Financial Services. "There are about 1,800 credit unions participating in shared branching, offering convenient branch access to more than 52 million members wherever they may travel in the United States.

"In addition to member convenience, shared branching offers a means of generating revenue and operational efficiencies for participating institutions," said Hollen. "If all of the nearly 7,000 credit unions in the U.S. were part of shared branching, our locations would number about 21,000."

The credit union industry's shared branch network is also gaining fast on the two remaining networks with more branches. Chase has 5,892 branches and Wells Fargo has 6,392 according to the same FDIC source.

In addition to the more than 5,300 "live teller" branches, CO-OP Shared Branch also includes nearly 1,800 self-service kiosks within select 7-Eleven stores nationwide.

clip_image002

A business unit of CO-OP Financial Services (www.co-opf.org), CO-OP Shared Branch is the credit union movement's national network for extending branch services to members between institutions. Members of participating credit unions can enter the branch of any other participating credit union and transact account-related business as if they were in their own home branch.

To find a CO-OP Shared Branch location, or a CO-OP ATM, visit https://co-opcreditunions.org/locator.

For more information, visit http://www.co-opfs.org/solutions/locations/shared-branching.

About CO-OP Financial Services
Based in Rancho Cucamonga, Calif., and founded in 1981, CO-OP Financial Services is the nation's largest credit union service organization in terms of number of credit unions, assets and members. The company helps credit unions thrive by providing products and services that make it more convenient for members to do business with them. With a motto of "Be There. Be More," CO-OP's products fall into three business lines, including "Locations," (ATM, shared branching and call center services); "Card Payments" (debit and credit processing) and "Mobile/Virtual" (mobile, online, check imaging, bill pay services). To learn more visit www.co-opfs.org

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Birth of the Weekend

  Birth of the Weekend   Today marks 100 years since Ford Motor Company became one of the first American companies to officially adopt the five-day, 40-hour workweek for factory workers, a decision that reshaped work-life balance. Henry Ford’s idea to eliminate Saturday from the workweek initially met hesitation from some hourly workers worried about reduced pay. However, his daily wages of $5 to $6—roughly double the industry average—helped to ease concerns ( read 1920s reactions ). Ford reportedly redirected Saturday wages to hire thousands more people for Monday through Friday shifts, reducing unemployment. The move also boosted productivity, reduced turnover, strengthened morale, and gave workers more leisure time, some of which they spent buying and traveling in Ford cars.  The US formally codified the 40-hour workweek in 1940, mandating overtime pay for hourly employees. More recently, momentum has grown aro...
Post a Comment
Read Complete Article HERE>»

How did the Supreme Court become so powerful?

  A court designed to be the least powerful branch became one of the most influential institutions in history. 1440 Explores host Sony Kassam dives inside the Supreme Court of the United States, with help from Yale Law professor Akhil Reed Amar, to uncover how it gained extraordinary authority, what really happens behind closed doors, and why its power has become one of the most fiercely contested questions in modern democracy. ================================================= Remember, you're not alone with  NCOFCU.org Join/Upgrade Check out some of NCOFCU's additional features: Annual Conference First Responder Credit Union Academy Financial Literacy Podcasts YouTube Mini's Advocacy  
Post a Comment
Read Complete Article HERE>»

Fed Keeps Interest Rates on Hold in Split Decision at Final Meeting of Powell Era

  By  Keith Griffith April 29, 2026 In an unexpectedly close split decision,  Federal Reserve policymakers  have decided to keep interest rates on pause in what is likely to be the final meeting under the supervision of Fed Chair  Jerome Powell . Powell joined the 8-4 majority on the  Federal Open Market Committee  to vote in favor of leaving the  federal funds rate unchanged  at Wednesday's meeting in Washington, DC, judging inflation as running too hot to justify a rate cut. At a press conference after the vote, Powell revealed that he will remain on the board of governors as a regular member after his term as chairman ends, saying: "After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined. I plan to keep a low profile as a governor. There is only ever one chair of the Federal Reserve Board." Read the complete story here.
Post a Comment
Read Complete Article HERE>»

Syracuse Fire Department Credit Union.

  ================================================= Remember, you're not alone with  NCOFCU.org Join/Upgrade Check out some of NCOFCU's additional features: Annual Conference First Responder Credit Union Academy Financial Literacy Podcasts YouTube Mini's Advocacy  
Post a Comment
Read Complete Article HERE>»

How's Your Posture?

      April Blog   How's Your Posture?   Scenario Planning Is Dead! Long Live Strategic Posture. by That One Consultant You Hired and Then Ignored   Somewhere in your credi...
Post a Comment
Read Complete Article HERE>»

Boston Firefighters Credit Union Taps Tech Leader Elizabeth Adcock to Drive Digital Future

  Boston Firefighters Credit Union is bringing in some serious digital firepower. The organization just named Elizabeth Adcock as its new Chief Digital & Information Officer—a role that’s all about steering the credit union into a more tech-savvy, member-focused future. If you’re wondering why this matters, consider the timing. BFCU is in the middle of a major digital evolution, expanding its reach across Massachusetts while staying true to its core mission: serving first responders and their families. Enter Adcock, a technology executive with a track record of turning complex tech challenges into real-world wins. “I’m thrilled to welcome Elizabeth as our Chief Digital & Information Officer,” said Danielle Milner, President & CEO of Boston Firefighters Credit Union. “She is the rare combination of strategic vision, digital expertise, and human-centered leadership. Paired with her deep commitment to bring greater innovation to first responders and their families, her ser...
Post a Comment
Read Complete Article HERE>»

Fed still holds off on rate increase | 2015-07-30 | CUNA News

  WASHINGTON (7/30/15)--Citing “moderate” economic expansion, the Federal Open Market Committee continues to do “a balancing act,” said CUNA Senior Economist Perc Pineda. The Federal Reserve’s monetary policy-making body completed its meeting Wednesday without edging up the federal funds interest rate. Fed Chair Janet Yellen has said the committee will opt for an interest-rate increase sometime this fall. The July meeting, however, was not the time. “The Federal Reserve continues to do a balancing act: the U.S. economy is not in a recession and definitely not overheating,” Pineda told News Now . “Changes in monetary policy after all are meant to influence an underperforming or an overheating economy.” Household spending growth has been moderate, and housing has shown additional improvement, the committee said. Labor conditions continue to improve with declining unemployment and solid job gains. Inflation is anticipated to remain near its recent low level in the near term,...
Post a Comment
Read Complete Article HERE>»

IRS Reporting Proposal Scaled Back, but Still 'Flawed'

On Tuesday, Senate Democrats distributed an update to the controversial IRS reporting requirements that the credit union industry has been very vocally opposed to since it was unveiled in late June. According to the updated proposal rolled out Tuesday, it would require financial institutions to report inflows and outflows of personal and business accounts, as well as transfers between accounts of the same owner, if it is more than $10,000 per year. The proposal floating around for the past four months had the threshold at $600 per year. The requirements do not apply to payroll deposits for wages or to those receiving Social Security benefits. In response to the updated IRS reporting proposal, NAFCU President/CEO Dan Berger said, “It has become abundantly clear that Americans oppose the IRS obtaining additional information on their financial accounts. The updated plan is nothing more than window dressing in an attempt to shore up support for a flawed proposal. Instead of creating financ...
Post a Comment
Read Complete Article HERE>»

What Trump’s ‘one big beautiful’ tax-and-spending package means for your money!

  Trump’s megabill will bring sweeping changes for household finances. President  Donald Trump  signed his “one big beautiful” tax-and-spending package on July 4 — legislation that will bring sweeping changes to Americans’ finances.  After the  Senate passed its version  on July 1, the House Republicans on July 3  voted to approve  the multi-trillion-dollar domestic policy legislation and send it to Trump’s desk for signature. The final bill makes permanent Trump’s  2017 tax cuts  while adding new relief, including a senior “bonus” to  offset Social Security taxes  and a  bigger state and local tax deduction . The plan also has tax breaks for  tip income , overtime pay and  auto loans , among other provisions.  The GOP’s marquee legislation will also enact deep spending cuts to social safety net programs such as  Medicaid  and food stamp benefits,  end tax credits tied to clean energy  an...
Post a Comment
Read Complete Article HERE>»

2 Historical Moments: CUNA Mutual Officially Changes Name Today, As Union Also Calls Strike

MADISON, Wis.–One of the most iconic names in credit unions and credit union history in the U.S. will officially change today when CUNA Mutual Group begins operating under the TruStage brand across the enterprise. All enterprise, business-to-business and consumer brands are now unified under the single brand name of TruStage, which the company has been using for some of its products for a number of years. The new brand is being introduced at the same time approximately 450 employees represented by Office & Professional Employees Local 39 have gone on strike. It is the first strike in the company and the union's history. As CUToday.info has been reporting, the company and the union have been at an impasse since February of 2022, when t...
Post a Comment
Read Complete Article HERE>»