ALBANY, N.Y. – Credit union service organization UsNet, a provider of shared branching solutions, has added the Albany-based Capital Communications Federal Credit Union to its shared branching network.
The $1.1 billion asset credit union, which was founded in 1953 and currently serves 117,000 members, joined the network as both an acquirer and issuer. Under the agreement, members of other credit unions in the network will be allowed to perform transactions at CAP COM’s nine branch locations. Conversely, members of CAP COM will be permitted to perform transactions at more than 5,000 participating credit union shared branches.
CAP COM’s partnership with UsNet brings the total number of shared branches in New York’s Capital Region to 32.
UsNet is a credit union service organization owned by New York’s credit unions and the New York Credit Union Association. The CUSO provides shared branching services to participating credit unions as part of CO-OP Shared Branching’s national network. Currently, more than 1,800 credit unions representing 45 million members participate in CO-OP Shared Branching.