SAN DIMAS, Calif. — Shared branching got a boost into more of the credit union conscience in the wake of hurricanes Katrina and Rita and their aftermath and there are indications it might be getting another in the wake of the October's tremendous fires in California.
The Financial Services Center Cooperatives, the shared branching network headquartered on the West Coast, has implemented the Emergency Shared Branching program which allows credit unions which are not using shared branching to sign up to give their members access to their accounts during the emergency.
FSCC said the ESB program was developed during the floods in Louisiana two years ago. FSCC is waiving the set-up charge for the program. As long as the credit unions agree to the terms of its use, FSCC is not requiring credit unions to sign on to full-blown shared branching.
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