The 2,000-member Southwest Chicago Chapter Credit Union hasjoined CO-OP Shared Branching through affiliating with the CreditUnion Centers, the shared branch vender managed with the Indiana Credit Union League.
|In announcing its affiliation, the $19 million CU said sharedbranching should help provide an additional source of income tohelp it manage income declines due to slumping demand for loans. Italso saw shared branching as a way of increasing memberconvenience.
|Southwest hopes to conduct at least 300 shared branchtransactions per month, in part thanks to a branch a few blocksaway from the U.S. Cellular Field, home to the Chicago White Soxmajor league baseball team.
|“Earlier this year we had a $4 billion credit union join ournetwork to enhance its member services by providing more branches,”said Dan Davis, chief financial officer of CU Centers. “WithSouthwest Chicago Chapter, we have a $19 million credit unionneeding the exact same thing, which shows the versatility of sharedbranching and how it can greatly assist credit unions in the samemanner of any size.”
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
