One of the most commonly held misconceptions about credit unions is that they are not as convenient as banks. Like a POW who has Stockholm Syndrome, loyal big bank junkies rationalize that credit unions can’t provide the same conveniences that their mega-giant can--even though they pay for extra branches and ATMs out of their own pocket.

Credit Unions Online wants you to know that although banking trends continue to move in a more technology-driven, mobile direction, credit union opponents often argue that credit unions are not conveniently located and that members must often drive a far distance if they want access to daily services.

For example, Megan McArdle, a writer for The Atlantic recently disputed a piece penned by Felix Salmon regarding how credit unions are not a good option for payday loans.

In her article, McArdle discusses the notion of convenience and writes, “Credit unions, being small, do not work this way. My father-in-law used to drive something like 40 minutes to deposit checks at his credit union, and that's not all that unusual. That's not somewhere you want to have to go in an emergency--particularly if you're a shift worker, instead of a college professor.”

McArdle is not alone in her thinking. A recent TD Bank Checking Poll showed that 53% of the bank’s respondents remained committed to the giant because of its convenient locations and 65% are staying because of its easy-to-use online banking.

Consumers are drinking the Kool-Aid and may be lulled into thinking that they must pay high fees in order to receive conveniences. But do you really have to feed the beast in order to receive convenient banking options?

Shared Branching Network--a Branch On Every Corner

Rachel Fausett, Business Development Officer at Greater TEXAS Federal Credit Union ($450 million, Austin, Texas) says that being part of the Shared Branching Network  provides the same level of conveniences even the biggest banks offer. 

“You have to explain to the member that they can perform the same transactions executed at one of our branches at one of the Shared Service Centers as well,” she says.  “Being part of the network means that we see members from other credit unions in our lobbies too. In fact at some of our branch locations we experience a higher number of Service Center members than our own members on some days.” 

The idea behind Shared Branching is to provide numerous brick and mortar options for credit union members across the country. Even though the member may have joined credit union “A,” he or she can conduct business at a wide variety of other credit unions nationwide without additional fees.

Currently, members have access to 4,461 Shared Branch locations across the country. Fausett says that her credit union has created a special tri-fold brochure that identifies convenient service centers near her branches.

“We created the brochure per branch area because our locations are spread out across the entire state. The multi-tri fold piece lists all the credit unions that participate, which helps the member quickly identify the closest location.” 

Rick Blood, VP Mortgage and Consumer Lending from US Federal Credit Union ($853 million, Burnsville, Minnesota) says that his credit union listens closely to members in order to meet specific convenience needs. 

“We really work on listening to our members to identify key needs and we advocate educating them about all the resources available to them to meet the convenience of a large bank that may have a broader network of locations,” Blood says

Both Fausett and Blood say that having a national Shared Branching Network provides members with limitless opportunities to access a convenient location. 

“From the east coast to the west coast US Federal Credit Union along with partnering credit unions provide the flexibility and convenience that rival big banks by utilizing the Shared Branch Service Network at no cost to our members,” Blood says.

“We have a lot of members and other participating credit union members that utilize the Shared Branch Service Network on a regular basis,” Blood continues. “Many of them visit a location anywhere from weekly to semi monthly.” 

Fausett says that once members access a Shared Branch they are thrilled to discover how easy it was to perform a transaction or get cash. 

“Our members may go overseas to work or travel around the US,” she says. “I’ve talked to members, who come in on Christmas Eve, for example and tell us that they were in Alabama and needed cash. The member called the credit union and an employee quickly looked up the closest branch to their location.  The member was able to access their money and was thrilled. We get letters and comments about member experiences with Shared Branch Networks all the time--they love it.”   

In addition to obtaining convenient Shared Branch Service locations from your credit union, Credit Union Service Centers recently introduced an app that allows smartphone users to quickly find a location from their iPhone.

Find a credit union near you today!