Shared branching network UsNet posts across-the-board growth in 2013
Mindi Schwab, Communications Director
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(Albany, N.Y.) - By focusing on service and the cooperative business model, shared branching network UsNet once again experienced strong across-the-board growth in 2013.
UsNet added four new credit unions and 20 new branches to its network last year. A combined 57 credit unions representing $34 billion in assets and 2.2 million members now participate in the network. In 2013, more than 1.1 million members visited UsNet’s 196 shared branches located throughout New York, Connecticut, New Jersey, Massachusetts and Florida.
UsNet also distributed $27,000 in shareholder dividends, $169,578 in credit union rebates and $40,450 in new credit union discounts (also known as opportunity pool incentives) last year. 2013 marked the fifth consecutive year that UsNet member credit unions and shareholders received the distributions.
“2013 proved to be another successful year for UsNet and our network participants,” said Marc Inger, chief operating officer of UsNet. “In a changing industry and marketplace, the cooperative model of shared branching continues to create valuable benefits for credit unions and their members.”
About UsNet: Universal Sharing Network (UsNet) empowers credit unions to expand their reach through participation in shared branching. As a partner of CO-OP Shared Branch, UsNet offers credit unions and their members access to more than 5,000 Shared Branch locations in and beyond the U.S. UsNet is a credit union service organization (CUSO) owned by New York credit unions and the Credit Union Association of New York. For more information, visit www.universalsharing.com.