Shared Branching
What Is Shared Branching?
Shared branching is a cooperative banking system that allows credit union members to conduct transactions at participating credit union branches outside their own institution. Through shared branching networks, members can access services such as deposits, withdrawals, loan payments, and account transfers at partner locations.
Shared branching expands access to financial services beyond a credit union’s individual branch locations.
Why It Matters
Shared branching improves convenience for credit union members by allowing them to access services at thousands of participating locations nationwide. This system helps credit unions compete with large banks that maintain extensive branch networks.
For members who travel or move frequently, shared branching provides continued access to in-person banking services.
How Shared Branching Works
Participating credit unions join a cooperative network that allows members to access services across institutions.
Typical shared branching services include:
- cash deposits and withdrawals
- check deposits
- loan payments
- account transfers
Members usually verify their identity using identification and account information.
Shared Branching vs Traditional Branch Banking
- Traditional banking requires customers to visit branches operated by their own bank.
- Shared branching allows credit union members to access services at participating partner credit unions.
FAQs About Shared Branching
Who can use shared branching?
Members of participating credit unions.
Are all credit unions part of shared branching?
No, but many participate in national shared branch networks.
What services are available through shared branching?
Deposits, withdrawals, loan payments, and account transfers.
Related Terms
- Credit Union
- CO-OP Shared Branch Network
- CO-OP ATM Network
- Field of Membership
- Financial Cooperative
