Ironically, shared branching came about as the result of a bad prediction, according to Dan Balagna. In the 1960′s there was a study that predicted that America would be a cashless society by 1980, Balagna explained. And that prediction led a credit union executive, Donald MacKinnon, former CEO of the Dearborn Federal Credit Union, to begin to meet with other credit unions to discuss beginning shared branching. "We were actually incorporated in 1969," Balagna said, "but it took until 1975 to iron out all the regulatory and other problems."

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