The Minnesota Credit Union Network in St. Paul, Minn., said it helped expand the availability of shared branching with the addition of two branches of the $90 million Minnesota Valley Federal Credit Union’s in Mankato.
This brings the number of shared branching locations in the state to 36, the MnCUN said.
“The expansion of the shared branching network is important to credit unions’ growth, and it’s a vital piece of a successful member-retention strategy,” said John Ferstl, vice president for MnCUN’s Network Service Corp.
“Shared branching helps credit unions attract and keep members by offering them branch options around the state and nationwide. This network of service centers increases the probability of finding a credit union nearby – no matter whether the member is close to home or on the road,” Ferstl said.
With MnCUN’s addition of Minnesota Valley’s FCU branches, the nationwide network now offers nearly 5,000 service centers across the country.