Virginia Credit Unions can boost income by serving as "shared" branches
By Lewis Wood
Vice President Publications & Public Relations

Looking for a new source of income? The Credit Union Service Company of Virginia introduced a new service in November that allows individual credit unions to perform transactions for the members of other credit unions, just like the current shared branches.

Your branch would be able to draw income by serving the members of other credit unions.

These so-called "outlets" are extremely popular nationwide, since they produce income for the host credit union and offer the members of participating credit unions new and convenient service options at the branch level.

The Credit Union Service Center Network of Atlanta – the network with which the Virginia League has partnered – consists of only 100 standalone shared branches, but more than 500 branch "outlets."

" This is an opportunity for the expansion of shared branching services in Virginia and for credit unions to earn additional revenues at their branches by serving other credit unions' members," says David Deacon, vice president of CUSCVA.

" There are a number of locations throughout the state that need a shared branch operation, but not on the scale of a standalone shared branch," says Deacon. "These areas simply do not offer the transaction volume that would make a shared branch viable or warrant investment in the construction or leasing of a standalone shared facility. However, the transaction volume would likely be more than sufficient to benefit a credit union with the staff and facility already in place."

Hosting an outlet would require the credit union to have access to the shared branching network's data system, but this could be accomplished by providing a shared branching network terminal on the teller line.

CUs that designate their branches as "outlets" would receive the same income that CUSCVA's shared branches receive for both in- and out-of-state transactions. This currently averages $1.75 per transaction.

Although the local market of any CU looking to serve as an outlet would dictate the volume of transactions, outlets in the CUSC Network average between 1,000 and 7,000 transactions per month.

Any CU can participate in this program. You need not be a CUSCVA shareholder. CUs would have to agree to participate in the network as both a transaction acquirer and by allowing their members to use other branches that provide this service.

Fifty CUs in Virginia, along with 850 others throughout the country, utilize shared branching services today at locations in 25 states.

For more information on the outlet program, contact League Vice President David Deacon at 800-768-3344, ext. 1634 or e-mail


With shared branching, credit unions from all over the country share facilities to give members thousands of convenient locations to perform transactions just as if they were in their home credit union. Whether you are at work, home, or your favorite travel destination, your credit union is always nearby.