The popularity of shared branching with Maine credit unions and their members is growing at a rapid rate. During the first half of 2007, the number of credit unions participating in shared branching increased by 35% (from 17 to 23) and the number of shared branch locations in Maine shot up by 50% (growing from 40 locations at year-end to 60 today).
The number of transactions being conducted through the Maine shared branching network is also showing healthy growth each month with more than 260,000 of Maine's 600,000 credit union members now having the opportunity to do everything from cashing checks to making loan payments and most other financial transactions at 60 locations across the state, instead of just a few branches, all at no charge. Nationally, the Credit Union Shared Branch Network has more than 2,600 locations including the 60 in Maine.
"Shared branching is a perfect example of the cooperative nature of credit unions working together to provide additional convenience, access and service to their members. Today, one-third of Maine's credit unions are part of the shared branch network and more are expected to join the network soon," explained John Murphy, President of the Maine Credit Union League.
The recent additions to the shared branch network include GPM CU (South Portland and Cape Elizabeth); Maine Highlands FCU (Dexter, Guilford, Dover-Foxcroft and Greenville); Semiconductor of Maine FCU (South Portland); and York County FCU (Saco, Sanford and York).
In addition to the shared branch network, participating Maine credit unions also offer the CU24 SurF (surcharge-free) Alliance that provides surcharge-free ATM access at nearly 200 ATMs across Maine.
For a complete list of shared branch locations in Maine and nationwide, visit
www.mainecreditunions.org and click on the shared branch link.
