How can Shared Branching help my credit union?
Shared Branching allows you to open a new branch every business day, without the expenses associated with building a brick and mortar location. It is a cooperative concept that is unique to the Credit Union Movement.
Statistics show that credit unions in the Shared Branching Network grow faster in members and assets than credit unions that are not in the network.
When you join Shared Branching, through OCUL Services Corp., your members can conduct transactions at thousands of Shared Branches in the United States, Ecuador, Germany, Italy, Japan, Korea, and Puerto Rico.
It is a service delivery channel that is good for your credit union and good for your members!
How does it work ?
Once your credit union is in the Shared Branching Network, your members can perform transactions at any other Shared Branching "acquirers" in our network. If you select to be an "acquirer", members of other credit unions can conduct their transactions at your participating branches. As the "acquirer", you receive fee income associated with the transaction.
The set-up is simple and inexpensive, and conducting Shared Branching transactions are simple for your staff and your members.
To conduct a Shared Branching transaction, members need only to:
- Visit any credit union that displays the Shared Branching 'Swirl' .
- Provide a photo legal I.D.
- Provide the name of their credit union and their account number.
How does Shared Branching help retain members ?
Your credit union only has so many branches. If your members move, change jobs, or go away to college, your credit union's location(s) may no longer be convenient for them.
Our research shows that members retain their credit union membership, as long as it is convenient for them! With Shared Branching, your member can use your services at thousands of locations near their new home, new job, or away at school!
Your members can also stop at any credit union that displays the Shared Branching "Swirl" while on vacation or just running errands around town. When you join Shared Branching, your credit union immediately has as many branches as the world's largest banks!
How can Shared Branching help my Disaster Recovery Plan?
A power outage, a computer problem, a fire, a robbery, flooding... Should a disaster force closure of your credit union, how will you provide services to your members while you recover? With Shared Branching, your members can continue to conduct transactions at any Shared Branch location.
It doesn't matter if your recovery takes an hour or a month! Shared Branching provides an automatic back-up for you and your members if a disaster should occur, so you can concentrate on getting back to business.
How can Shared Branching help my credit union grow?
Statistics prove it. Credit unions participating in Shared Branching grow faster than credit unions that do not. It is the single most cost-effective way to grow your credit union!
You have the rates. You have the services. You have the reputation. What limits your growth? Location.
In Shared Branching, you open a new branch every business day! That means members can access their accounts from anywhere that is convenient for them! That translates into more members, and more transactions per member.
How do I promote Shared Branching to our members ?
Once you are a part of Shared Branching, you have access to a library of complimentary promotional materials at our Marketing Resource Center that will help you educate your members about the many benefits of Shared Branching.
The Marketing Resource Center provides customized literature, direct mail, promotional products, and more resources to help make the most of your Shared Branching participation.
How do members find a Shared Branch?
There are three ways your members and staff can find a Shared Branch:
- Look for the "Swirl" at participating credit unions.
- Search for a Shared Branch using the always up-to-date online Web site.
- Call 1-800-919-CUSC (2872) and our friendly operator will help. This number is very convenient when in a car or a hotel room.
How much does it cost my credit union to start?
The cost to participate in Shared Branching is predicated on what your data processor charges for certification, and a one-time license fee.
You will be surprised at how cost-effective it is. Please contact us for a customized price analysis.
How do I get started?
Just contact our OCUL Services Corporation's Shared Branching Representative, Marty Auxter. We will be happy to provide you with complete information, and to deliver a detailed Shared Branching presentation to your executives and/or Board of Directors.
You will be surprised how cost-effective and benefit-rich Shared Branching is!
Marty Auxter
Business Consultant
OCUL Services Corp.
(800) 486-2917, Ext. 204
e-mail
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