The CO-OP Shared Branch network has passed Chase in number of branch offices, making the credit union cooperative the second largest network of financial institution branches in the country.
CO-OP Shared Branch now totals 5,671 physical locations. No. 3 Chase has 5,567 branches as of July 18, according to Federal Deposit Insurance Corp. figures. The credit union network added more than 400 branches during the past two years, when CO-OP Shared Branch surpassed Bank of America. The network is less than 500 locations away from No. 1 Wells Fargo, which has 6,150 branches.
“Shared branching is to credit union members what Uber is to passengers looking for a nearby ride,” said Todd Clark, CO-OP Financial Services president/CEO. “It’s the best example there is of why credit unions are different than banks--they share! Around 1,800 of the 6,100 U.S. credit unions share their branches. In addition, more than 3,000 are part of our CO-OP ATM network. When you couple-in digital services, credit unions offer a financial ecosystem that is convenient, accessible and a positive force in communities.”
Also, CO-OP ATM offers nearly 30,000 surcharge-free machines nationwide to members, a network larger than any bank.