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From the Editors of CU Weekly
CO-OP REACHES 5,000 LOCATIONS
03/18/13 03:27 PM
CUSO Fourth Largest Branch Network
CO-OP Financial Services has experienced exceptional growth in the last three years. Since 2010, CO-OP, the nation's largest credit union service organization, has added 1,000 branches to its CO-OP Shared Branching network, which now stands at 5,000 locations nationwide.
This milestone positions CO-OP as the fourth largest branch network with teller service in the nation, behind Wells Fargo (6,382 branches), Bank of America (5,916 branches), and Chase (5,833 branches).
The rapid growth of the CO-OP Shared Branching network is attributed to the cooperative spirit of credit unions, as well as the 2012 merger of the CO-OP Financial Services and Financial Service Centers Cooperative Inc. (FSCC) that added 502 branches.
Approximately 1,800 credit unions engage in CO-OP Shared Branching today. CO-OP estimates that if all 7,000-plus U.S.-based credit unions participated in shared branching, the network of shared branching locations would total more than 20,500.
For more information, please visit www.co-opfs.org.