Shared branching is a service offered by credit unions that allows members of participating credit unions (like MMCCU!) to conduct transactions at other credit union branches, even if they are not members of those specific branches. It provides members with convenient access to their accounts and services when they are away from their home credit union. MMCCU is proud to be a Shared Branch location in Marshfield, WI.
With shared branching, credit unions form a cooperative network, allowing members to use the branches of other credit unions within the network. This network is often facilitated by organizations such as CO-OP Financial Services or the Credit Union Service Network (CUSN). These organizations establish partnerships and agreements among participating credit unions to enable shared branching.
Through shared branching, credit union members can perform various transactions, including deposits, withdrawals, loan payments, account transfers, and balance inquiries. Essentially, it allows members to access their accounts and utilize banking services as if they were at their own credit union’s branch.
To use shared branching, a member typically needs to provide their credit union name, account number, and a valid identification document, such as a driver’s license or passport, at the shared branching location. The credit union staff at the shared branch can then verify the member’s identity and process the requested transactions.
Shared branching offers increased convenience and accessibility for credit union members, especially when they are traveling or living outside their credit union’s geographical area. It expands the number of physical branch locations where members can conduct their financial transactions without having to maintain multiple accounts at different credit unions.
Happy Shared Branching Week from MMCCU! Find a Shared Branch near you HERE.
