Phase Two Development of Shared Branching Capabilities for ATMs

Contact: Bill Prichard
Public Relations Manager
CO-OP Financial Services
800.782.9042, ext. 3450


CO-OP Financial Services is nearing completion on phase two application software that will allow members of participating shared branching credit unions to skip the teller line and conduct nearly all financial transactions at existing NCR ATMs.

“The phase two software goes on existing ATMs, providing credit unions with shared branching capabilities at a much lower cost than buying a standalone unit,” said Stan Hollen, President/CEO of CO-OP Financial Services. “Our phase three solution will be fully integrated with a single point of settlement. By next year, our credit unions will have three options so they can choose what works best for them, expanding shared branching services to more credit unions and more members.”

CO-OP is testing the phase two software on an NCR ATM at CO-OP’s Shared Branching Service Center in St. Clair Shores, Mich.

Operational today is CO-OP Fast Branch, a standalone kiosk currently installed in more than 100 locations, delivering everything that credit union members expect at a teller window. With phase two, available in the fourth quarter of 2010, CO-OP will be introducing software that provides similar services on existing NCR ATMs.

Phase three, with additional features and installable via software on ATMs of NCR and Diebold, is projected for availability in 2011. The shared branch transaction capabilities on the ATM will provide credit union members full account access as if they were at their own credit union office.

While CO-OP Fast Branch is a lobby unit, the phase two application can be a kiosk or a through-the-wall- or drive-through-ATM. The software enables credit union members to perform such transactions as check and cash deposits, account inquiries, withdrawals, transfers and payments at existing ATMs. Additional benefits of this next-generation shared branching software include:

  • Supports the growing trend towards greater member self service, giving members increased control over their transactions.
  • Deflects members from teller lines as they use these self-service ATMs, helping credit unions reduce teller costs.
  • Enhances member access and convenience as they can perform transactions 24×7 at an ATM, where such transactions currently must be performed during business hours with a teller.
  • Increases interchange income by generating more guest transactions, i.e., those where members of other credit unions use ATMs equipped with the shared branching software.
  • An “Our Members” button provides even greater ease, speed and satisfaction for credit union members by expediting the I.D. and sign-on process.

The software is the first to provide shared branch functionality for the nation’s credit unions using existing terminals and infrastructure, and therefore leverages the credit union’s investment in their ATMs. By combining the power of shared branching with CO-OP Network, and CO-OP’s nearly 30 years of payment processing experience, credit unions will be positioned among the most accessible and convenient financial institutions in the nation.


About CO-OP Financial Services

Based in Rancho Cucamonga, Calif., CO-OP Financial Services is the industry leader in access and convenience products for credit unions. Nearing 30 years of credit union service, CO-OP connects credit union members to their accounts through network services, payment processing, e-commerce, CO-OP Shared Branching and call center services. With a total of 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,000 shared branch locations and 160 million-plus monthly transactions, CO-OP Financial Services is the nation’s largest credit union service organization, offering the tools, counsel and leadership to help credit unions prosper. To learn more, visit Follow CO-OP on Twitter at: and keep up with industry issues via the CO-OP Insight Vault blog at:

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