Shared Branching Helps Retain Members
Credit unions have seen quite a bit of membership growth over the last year–much of it due to the consumers’ disdain over the poor reputation commercial banks have earned lately. Credit unions, to their credit, have profited from this consumer windfall and are now showing many of these new-found members how beneficial they really are by providing equal if not better service, equal if not better technology products and much better rates.
The one area most credit unions cannot compete, however, is the vast number of branch locations banks host nationwide, and that’s a big issue with many new members used to big banks branches planted virtually on every corner. Without this Starbucks-like coverage, how can credit unions retain its latest wave of new members who still demand traditional in-branch services?