With 402 outlets in Ohio, the Ohio Shared Branching Network (OSBN) is the largest state network in the nation! Thank you to the 112 OSBN credit unions for your commitment over this past year. With nearly 80% of the total assets and members in Ohio ($25,034,052,034 in assets and 2,394,479 members) participating in Shared Branching, we’re excited to continue to help credit unions achieve their growth and service goals. Shared Branching is more than a cost-effective service delivery solution. It is a valuable tool to have in your credit union’s growth tactics arsenal.
Other 2019 milestones include more than $1.13 billion in total acquired transactions, more than $1.1 billion in total issue transactions, $788 average deposit/loan payment, and $555 average withdrawal. Transaction and fee invoices are currently available on the League website and this year we look forward to monthly invoices being timelier and more detailed. In the second quarter, CO-OP Shared Branching will provide a dashboard that will make it easier for you to conduct analyses of your Shared Branching transaction data. Nationally, credit unions that increased their branch network by at least one branch had an asset growth rate two times greater than credit unions that did not increase their network size, and 70 percent of credit unions that increased their branch network had positive increases in membership, according to research conducted by CO-OP Financial Services.
If you have questions or are interested in more information on Shared Branching, contact Senior Business Solutions Manager Marty Auxter.