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|The Pulse (11-14-2017)|
Volume 6, Issue 45
Credit Unions Support Continuation of Cooperative Awareness Initiative
The campaign, “It’s Your Choice, Choose Minnesota Credit Unions” was launched in the spring of 2017 as a statewide, cooperative effort, designed to complement credit union marketing and educate consumers about credit unions. It includes online digital ads that drive consumers to a microsite to learn more. The site, choosemncu.org, includes general information about credit unions and a credit union finder, listing all Minnesota Credit Union Network member credit unions.
MnCUN is currently seeking pledges of financial support to continue this Awareness initiative into 2018. Credit unions are asked to submit pledge forms by Thursday, Nov. 30, 2017.
Thank you to the following credit unions that have already pledged their support:
More information is available on the awareness page of the MnCUN website. With questions, contact MnCUN Vice President of Communications and Engagement Andrea Molnau by email or by phone at 651-288-5527.
CO-OP Shared Branch Makes Your Credit Union Even More Convenient
CO-OP Shared Branch allows credit unions to cooperate to provide members with thousands of locations at which they can conduct a variety of transactions similar to their home credit union. Currently, CO-OP Shared Branch is the nation’s second largest financial-institution branch network, and the only one with locations in all 50 states. With 5,600 branch and self-service locations, your members are guaranteed the convenience and accessibility they desire.
CO-OP Shared Branch frees your credit union from the expense of building and supporting additional brick-and-mortar branches, while providing a vital channel that deepens relationships, enhances revenue and builds member loyalty.
What is the advantage of CO-OP Shared Branch?
CO-OP Shared Branch offers the convenience of widespread branch access and greater person-to-person
contact. With CO-OP Shared Branch, you can compete with the big banks and their large national branch
networks without making a big investment in brick and mortar. CO-OP Shared Branch is the most cost-efficient way to extend your reach and provide personalized experiences for your members.
Can we participate as acquirer or issuer only?
All participating credit unions must act as both an issuer and an acquirer. As an acquirer you can choose to have one, some or all of your branches perform guest member transactions or you can provide access through an approved self-service device. Credit unions should take the necessary steps to determine what the appropriate level of participation is for their individual circumstances regarding service to guest members. Participating as both an issuer and an acquirer highlights the cooperative nature of credit unions. But that’s not all. Data and statistics gathered from a study done in conjunction with Callahan & Associates prove that there are clear benefits to shared branching participation. As an issuer, members experience much greater levels of convenience and thus are more loyal and profitable members. Participating as an acquirer brings additional opportunities for enhancing financial performance because acquirers have the ability to offset issuer costs and generate revenue by completing transactions for guest members.
CO-OP Shared Branch is a strategic partner of the Minnesota Credit Union Network. For more information, contact Chief Operations Officer - Network Service Corporation and TruLync John Ferstl by email or at (651) 288-5505.