In an increasingly virtual world, consumers still prefer visiting brick and mortar branches for their financial transactions, according to studies from CO-OP Financial Services and U.S. Bank.

“Branches are not going to go away, but they are changing,” Sarah Canepa Bang, chief strategy officer for CO-OP Shared Branching, said. “The modern consumer wants it all – mobile, online and branches – and they expect all access points to work together in a single, harmonious, delightful user experience.”

Making deposits, withdrawals, transfers and account inquiries at a real branch is still essential for a majority of Americans, according to a U.S. Bank survey. Some findings from the survey include:

• Sixty-three percent of respondents indicate they will never make all of their financial transactions digitally.
• Eighty percent prefer working with an actual banker/teller instead of a virtual one.
• Eighty-six percent plan to do business in actual branches during the next five years.

The U.S. Bank data supports the findings of similar studies conducted by CO-OP Financial Services, which manages CO-OP Shared Branching, a nationwide network of 5,400 branches dedicated to serving members of 1,800 participating credit unions.