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|Products & Services News (07-17-13)|
The Pulse (07-17-13)
July 17, 2013 ● Volume 02, Issue 28
Minnesota Valley Federal Credit Union was awarded the 2013 Mankato Free Press Readers’ Choice Award as the "best place to bank” in Mankato, thanks in part to the convenience it provides through CO-OP Shared Branching. The awards allow the community to vote on their top area businesses, restaurants, and recreational activities around the Mankato area.
MVFCU has been serving the greater Mankato area since 1934, and now providing banking services to more than 11,000 members.
"One of the things that made us extra popular is last year we introduced shared-service branching. In any of the 50 states, you can find a credit union and walk in to do business,” said MVFCU President/CEO Nick Meyer in the Free Press article.
Shared Branching offers credit unions nationwide a competitive advantage, as CUs join together to create shared service center locations. The shared branching network enablescredit unions to provide their members with more than 6,000 convenient locations to perform transactions, just as if they were at their home credit union. By sharing facilities, credit unions extend their reach to offer greater convenience to all members in Minnesota and across the nation. Take advantage of this opportunity to serve your members better, without the time and expense of building additional branches.
To use shared branches, members simply need to provide their name, account number and a valid government-issued photo ID. Service center tellers then access the member’s account and perform the requested transaction in real time. Credit unions receive daily transaction settlement reports and monthly transaction and billing reports. Members pay nothing for all the basic services offered through shared branching. To locate shared service centers around the country, visit www.cuservicecenter.com.
For additional information about shared branching and see how a service center strategy can help your credit union become the "best bank” in town, contact MnCUNVice President – Network Service Corporation John Ferstl by email or at (651) 288-5505.