BASTROP, Texas – A new study has found that credit unions that use shared branching services have a higher profitability than those who do not.
The study, which was released today at CO-OP Financial Services' THINK O9 conference, was conducted by the Raddon Financial Group on behalf of CO-OP Financial Services. CO-OP is the parent CUSO of the CO-OP Shared Branching nationwide shared branching network.
"Many credit unions are already aware of the benefits of shared branching," said Carroll Beach, chief operating officer at CO-OP Shared Branching. "But as organizations look to cut costs during these tough times, this study shows shared branching has never been more important."
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Among the study's findings include that shared branch users represent 23% of a credit union's overall profitability. Futher, shared branch households generate an average profit of $119 for credit unions, while non shared branch households averaged $28.47.
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