The $4.7 billion Citizens Equity Federal Credit Union in Peoria, Ill, has decided to offer shared branching to its 279,000 members.
CEFCU announced it has joined CO-OP Shared Branching, a division of CO-OP Financial Services, through affiliating with Credit Union Centers, a CUSO which offers shared branching in Illinois and Indiana.
“Now, members traveling on vacation, wintering in a warmer climate, going off to college, or living outside of CEFCU’s core membership areas have a member center nearby for personal service,” said Giann Walker, vice president of market development at CEFCU.
“Based on our experience and a great deal of data, shared branching has proved to play a pivotal role in gaining and retaining members for participating credit unions,” said Dan Davis, executive vice president for CU Centers.
“With CEFCU’s size and reputation coupled with its new shared branching service, these goals should be attained easily – along with ultimately enhancing its membership value,” Davis said.