Credit Unions Can Boost Income By Serving as 'Shared' Branches

Looking for a new source of income? The Credit Union Service Company of Virginia offers a service that allows individual credit unions to perform transactions for the members of other credit unions.

Your branch would be able to draw income by serving the members of other credit unions.

These so-called "outlets" are extremely popular nationwide, since they produce income for the host credit union and offer the members of participating credit unions new and convenient service options at the branch level.

The CO-OP Shared Branching Network – the network with which the Virginia League has partnered – consists of over 5,069 shared branch locations.

"This is an opportunity for the expansion of shared branching services in Virginia and South Carolina - and for credit unions to earn additional revenues at their branches by serving other credit unions’ members," says Terry Childress, executive vice president of CUSCVA.

Hosting an outlet would require the credit union to have access to the shared branching network's data system, but this could be accomplished by providing a shared branching network terminal on the teller line.

CUs that designate their branches as "outlets" would receive the same income that CUSCVA's shared branches receive for both in- and out-of-state transactions. This currently averages $1.75 per transaction.

Although the local market of any CU looking to serve as an outlet would dictate the volume of transactions, outlets in the CO-OP Shared Branching Network average between 1,000 and 7,000 transactions per month.

Any CU can participate in this program. You need not be a CUSCVA shareholder. CUs would have to agree to participate in the network as both a transaction acquirer and by allowing their members to use other branches that provide this service.

Fifty-six CUs in Virginia, along with 1,750 others throughout the country, utilize shared branching services today at locations in 51 states.

For more information on the outlet program, contact League Executive Vice President Terry Childress at 800-768-3344, ext. 605 or e-mail

With shared branching, credit unions from all over the country share facilities to give members thousands of convenient locations to perform transactions just as if they were in their home credit union. Whether you are at work, home, or your favorite travel destination, your credit union is always nearby.