ATLANTA — The $334 million Connex Credit Union, headquartered in New Haven, has become the 13th Connecticut credit union to sign start offering its members shared branching services, according to CO-OP Shared Branching network.
CO-OP Shared Branching is the shared branching arm of CO-OP Financial Services, the payments CUSO which is also the parent CUSO for the CO-OP Network.
Connex made the move through joining SCCT LLC, a wholly owned subsidiary of the $601 million Charter Oak Federal Credit Union which is turn affiliated with CO-OP Shared Branching.
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"This is a strategic move for our credit union to expand services to our members," says John Edwards, CEO of Connex CU. "Overnight, we have added over 3,300 branch outlets where our members can access their accounts. The benefits are twofold-our credit union saves money by not having to build expensive branches and we enhance the service relationship with our members."
Kevin O'Donnell, vice President of Charter Oak FCU and SCCT board member, says "Shared branching is an effective way for credit unions to share resources and to compete with the major expansion of bank branches occurring within Connecticut and across the country."
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