CO-OP Shared Branching is trumpeting having added more than 1,000 credit unions to its Next Generation Switch. The shared branching switch that is proprietary to CO-OP allows shared branching participants access to more member data at less expense.
The shared branching subsidiary of CO-OP Financial Services reported that almost 1,300 credit unions currently offer shared branching through CO-OP Shared Branching (1,000 of these use the NGN platform), representing more than 80% of all shared branching participants.
In addition to shared branching, credit unions using NGN can access various EFT end-points, including CO-OP Fast Branch kiosks, CO-OP My Deposit (home deposit) and CO-OP Mobile (mobile banking), the CUSO said. Through one streamlined connection, credit unions are able to offer members a variety of account access solutions that best position them to compete against banks.
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"The capabilities afforded to credit unions with NGN are numerous. It continues to provide an easy and efficient method for credit unions to access shared branching," said Carroll Beach, President/COO, CO-OP Shared Branching. "Driven by member needs, it is now the platform for a host of innovative products that fortify credit unions' financial distribution channels. The success of NGN is only possible through the strong cooperation of credit union participants."
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