Credit Union Centers Shares Shared Branching Survey Results
Indianapolis – June 11, 2012 – Shared branching vendor Credit Union Centers (CUC) recently completed a survey of its credit union clients. CUC credit unions were asked to complete the online survey to determine program satisfaction as well as interest in additional delivery channel products that utilize its shared branch switch. A total of 54 credit unions (71% of CUC’s total membership) participated in the survey.
Survey responses indicate that shared branch participating credit unions value the program as part of their overall delivery channel strategy, with 98% of the respondents rating shared branching as important in relationship to their other delivery channels. Respondents were asked to rank the benefits of the program based on importance. Increased member access and member retention received the highest responses on program benefit.
In addition to measuring the importance of the shared branch program as a delivery channel, the survey also gauged participant satisfaction. All of the respondents indicated that their credit union is likely to continue in the program over the coming years. CUC received good to excellent ratings by 97% or the respondents on staff knowledge and 90% on training for support staff.
Some of the survey’s shared branching comments from recipients include:
- Shared Branching is a critical part of our credit union’s short and long term growth strategies, especially as it relates to consumers perceptions and continued need for brick and mortar and convenient access.
- I like the convenience that the CU Centers offers my members, but with the goal of keeping them credit union neutral, I cannot think of much more that they can offer.
- We believe it offers a very affordable solution to members who are used to super regional banks having offices at every corner.
CUC’s client survey also shows the greatest short-term opportunity for adding additional products (of the current CO-OP NGN offering) is in mobile banking with 61% of the respondents that don’t currently offer mobile services planning to add the product in the next 12 months. Credit unions were asked to provide comments regarding additional products and services that CUC should consider offering. The top comments regarding additional products were lending and person-to-person payments.
“This survey was really helpful to us to further serve our credit union clients,” says Credit Union Centers EVP/CFO Dan Davis. “It allows us to see how well we are doing with our foundation shared branching services, as well as what products and services to provide when we expand our offering.”
About Credit Union Centers
Credit Union Centers (CUC) is a CUSO wholly owned by its member credit unions. CUC provides delivery channel solutions that complement a credit union’s growth, income, and expense strategies. Through a single interface, CUC member credit unions have access to a growing number of delivery channel solutions, including the CO-OP Shared Branching’s network of more than 4,700 credit union shared branch locations nationwide (more than 300 in Indiana/Illinois combined). Working with CO-OP, CUC also offers call center services, mobile banking, and remote deposit capabilities. For more information about CUC, visit www.cucenters.com.