Minnesota CU Fills Critical Role in State’s Shared Branching Network
ST. PAUL, Minn. – The Minnesota Credit Union Network (MnCUN) helped to expand the availability of Shared Branching locations across the state with the addition of Minnesota Valley Federal Credit Union in southern Minnesota. Minnesota Valley FCU’s two branches now bring the number of Shared Branching locations in Minnesota to 36.
With MnCUN’s addition of this latest Shared Branching participant, the nationwide network now offers nearly 5,000 service centers across the country that credit union members – no matter which participating credit union they belong to – can access as if it were their own. Through Shared Branching, credit unions here and across the country combine their services and provide members with thousands of convenient locations to perform transactions similar to those they conduct at their primary credit union, including making deposits, withdrawals, loan payments and more.
Consumers have said that banking locations near their home or work is a major factor in determining their choice for a primary financial institution. With thousands of Shared Branching locations nationwide, this network of credit unions competes with the largest banks in the United States.
“The expansion of the Shared Branching network is important to credit unions’ growth, and it’s a vital piece of a successful member-retention strategy,” said MnCUN Vice President – Network Service Corporation John Ferstl. “Shared Branching helps credit unions attract and keep members by offering them branch options around the state, and nationwide. This network of service centers increases the probability of finding a credit union nearby – no matter whether the member is close to home or on the road.”
For a listing of service centers in Minnesota and around the country, visit www.cuservicecenters.com
The Minnesota Credit Union Network is an organization representing the state’s 134 not-for-profit cooperative credit unions serving more than 1.5 million member-owners in Minnesota. For more information, visit www.mncun.org.