What Is a Shared Credit Union Branch?


Quick Answer

A shared credit union branch is a branch office that is part of a network of multiple credit unions. A member of one of the participating credit unions can transact business at the shared branch as he would at his own branch, explains First Credit Union.

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Full Answer

Shared branches give members access to thousands of credit union locations. Credit unions are the only financial institutions that use the shared branch concept as of 2015, according to First Credit Union. Shared branch networks include automated teller machines, making tens of thousands of ATMs available to credit union members. Shared-branch banking is free for members of the credit unions in the shared branch network. Shared branches and ATMs are available throughout the United States, and credit union members can contact their credit unions for locations.

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