ATLANTA -- Two Illinois credit unions have signed onto shared branching as part of attempts to tailor their branch availability to meet member needs, according to CO-OP Shared Branching, the national shared branch network the two joined.
CO-OP Shared Branching is the subsidiary of CO-OP Financial Services. The two credit unions are the $458 million Great Lakes Credit Union, headquartered in North Chicago, and the $164 million Heartland Credit Union, headquartered in Springfield.
"A survey we conducted revealed that convenient branches are a top priority to our members," said Susan Gleason, Heartland Credit Union sales and marketing manager. "We recently went through a merger, which led to a geographically dispersed membership, and we have a lot of snowbirds. Shared branching is a great way to offer them accessibility without having to build brick and mortar."
Snowbirds are generally members who shift residences according to seasonal climates.Heartland Credit Union brings four locations to the network for use by members of participating credit unions. Great Lakes Credit Union offers an additional seven locations, the network said.