Credit Union Centers, the shared branching vendor headquartered in Indianapolis, said it added 31 new shared branching outlets in 2011, an increase of 10%.
That included the 279,000-member, $4.4 billion CEFCU in Peoria, Ill., along with three smaller institutions.
“Many of the reasons for our growth in 2011 stem from today’s credit unions looking for new opportunities to grow membership and revenue,” said Dan Davis, chief financial officer at Credit Union Centers.
“Our credit unions are successfully leveraging our cooperative network to expand their market presence, which ultimately attracts a broader membership base that can increase their income,” Davis said.
By investing in one network interface, credit unions that join Credit Union Centers benefit from not only having access to thousands of branches nationwide as well as mobile banking, remote capture, kiosks and a 24/7 call center, he added.
Other institutions that joined CUC in 2011 include the Southwest Chicago Chapter CU ($19 million; 1,932 members); Chicago Patrolmen’s FCU ($355 million; 21,489 members) and Members Choice CU ($110 million; 9,244 members, Peoria).