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Credit Union Myth Debunked: Not Enough Branches

Posted in Aspire FAQs
September 3rd 2015 by
1 comment

Many credit unions, Aspire Federal Credit Union included, are part of the CO-OP Shared Branch Network. This network gives participating credit union members access to over 5,300 branches and 1,800 self-serve kiosks across all 50 states.

And that makes it the third largest branch network among all financial institutions.

CoOp Shared Branching Infographic

Room to Grow, Too

Currently, about 1,800 credit unions participate in the CO-OP Shared Branch Network. If all credit unions join, that would create a network of about 21,000 branches. As you can see from the chart above, that would by far surpass the top two financial institutions.

Banks will never be able to compete with these numbers, as they’re more concerned about their bottom line than helping people have access to their finances wherever they are.

What Services are Available at a Shared Branch?

Services vary by location, but you can typically do:

  • Deposits
  • Withdrawals
  • Transfers
  • Account inquiries

The most significant benefit about shared branching is the convenience. While some banks are local or regional, this network is throughout the entire country.

Let’s say you live in New York City, but decide to do a cross-country trip to the Grand Canyon. The bank you use may not have numerous branches along the way, but you can bet you’ll be able to find a shared branch location.

And Don’t Forget Your Virtual Branch!

Online and mobile banking has made managing your finances easier than ever! You can do almost everything online or on-the-go. For example:

  • Transfer money between accounts or even to other bank accounts
  • Schedule and pay for bills with Bill Pay
  • Deposit checks with your smartphone
  • Apply for a loan and sign for your documents

Online services are not just about checking transactions anymore, so take advantage of it!

Spread the Word!

The next time you hear someone complain about the lack of branches a credit union has, let them know about the CO-OP Network. Even if their credit union is not participating, they can request it and help expand the network even more.

Want to look for a shared branch near you? Click here to use the locator!

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