Two PA CUs Bring Shared Branching to New Level
Two credit unions in Pennsylvania have gotten together to share a branch–not by joining a network, but by actually building a branch together and sharing it.
The 41,000-member Sun East Federal Credit Union and the 8,000-member Keystone FCU recently opened the doors to their new branch inside a shopping mall.
Sharing the branch allows the credit unions to share expenses, as they work in one facility, while remaining separate business entities, the CUs said. It also brings another branch to an area that needed one.
“Building a branch together is an exciting innovation which allows both credit unions to expand without a huge impact to our respective bottom lines,” says Keystone CEO Chris Woods. “Focusing on credit union philosophy allows us to concentrate on the similarities in the missions of both credit unions rather than feeling threatened by any perceived competition.”
The newly-minted joint branch effort marks Sun East’s ninth branch location in the Delaware Valley. And for Sun East CEO Michael Kaczenski, it’s an exciting opportunity to offer convenience to their existing members.
“We believe building a bridge between our current locations in Concordville and Nottingham makes us more accessible to our members who travel along Route 1,” says Kaczenski. “And by partnering with Keystone on this venture, it shows our commitment to service and the dedication we have to our members.