OAKDALE, Minn. (10/13/08)--The Minnesota Credit Union Network (MnCUN) hosted its first Shared Branching Forum Oct. 7 in an effort to enhance knowledge and encourage participation in shared branching. More than 60 individuals representing 29 credit unions attended. MnCUN Executive Vice President Peter Skaalen kicked off the session by providing an overview of shared branching, a summary of options available, and an update on recent developments. He discussed the advantages of shared branching, including increased member convenience and immediate access to the 26 outlets located in Minnesota and more than 3,400 service centers throughout the country. “Not only does shared branching offer tremendous member convenience that would be impossible for a credit union to match on its own by adding branch offices, it can also be a key component in disaster recovery plans,” Skaalen said. The forum featured a panel discussion of current users, including:
* Carla Hansen, TopLine FCU, Maple Grove; * Ruth Ann Horns, City-County FCU, Brooklyn Center; * Barb Jackson, the Shared Service Center, Duluth; * Gail Krall, Minnesota Power Employees CU, Duluth; * Russ Plunkett, Postal CU, Woodbury; and * Bill Raker, US Federal CU, Burnsville.
Panelists fielded questions on their experience with shared branching. The concept of shared branching is terrific, especially for small credit unions, because it provides immediate account access members at so many branches around the state and around the country, Raker said. The session concluded with an in-depth review of operational requirements, rules and policies. “Session participants were engaged and inquisitive about shared branching and provided positive feedback about this important member service,” Skaalen said. “We look forward to growing the number of outlets in Minnesota and providing increased convenience to credit union members.”