RANCHO CUCAMONGA, Calif. – CO-OP Shared Branch is now the third largest network of financial institution branches, having surpassed Bank of America in number of branch offices, the company reported.
CO-OP Shared Branch reported its network now includes 5,341 branches, compared to Bank of America’s 5,244 branches, according to FDIC data.
“We have achieved a significant milestone by reaching more than 5,300 branches, but the sky is still the limit for our industry’s unique shared branching concept,” said Stan Hollen, President/CEO, CO-OP Financial Services. “There are about 1,800 credit unions participating in shared branching, offering convenient branch access to more than 52-million members wherever they may travel in the United States. In addition to member convenience, shared branching offers a means of generating revenue and operational efficiencies for participating institutions. If all of the nearly 7,000 credit unions in the U.S. were part of shared branching, our locations would number about 21,000.”
CO-OP Shared Branch reported that it now trails just Wells Fargo, which has 6,392 branches, and Chase, which has 5,892.
In addition to the more than 5,300 “live teller” branches, CO-OP Shared Branch also includes nearly 1,800 self-service kiosks within select 7-Eleven stores nationwide.