January 24, 2008 With 27 Maine credit unions now participating in the shared branch network, the number of shared branch locations in Maine has now surpassed 75 where members of participating maine credit unions can conduct financial transactions at no charge as if they were in their own credit union. In addition to 75 locations in Maine, there are now more than 3,000 shared branch locations nationwide that offer the same convenience to members of participating credit unions.
Shared branching is a cooperative network of credit unions that have joined together and created shared service centers across the country. By sharing facilities, credit unions can offer greater convenience for members to access their accounts at many locations just as if they were at their home credit union. Members can enter any shared service center and conduct a range of transaction services, such as:
- Cash checks
- Make deposits and withdrawals
- Make loan payments
- Make transfers between accounts
- Purchase Money Orders, Travelers Checks and Official Checks
- Obtain cash advances and balance inquiries
"Shared branching is a perfect example of credit unions working together for the benefit of their members. The ability to conduct most financial transactions at more than 3,000 locations nationwide gives the more than 250,000 credit union members in Maine that have access to shared branching more convenience than ever," explained John Murphy, President of the Maine Credit Union League.
Eastmill FCU in East Millinocket is the latest credit union to join the shared branch network. In the past couple of months, Gardiner FCU, Winthrop Area FCU and PeoplesChoice CU have joined the network.
For a complete list of shared branch locations, click here.
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