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CU Centers takes shared-branching stats to convention
INDIANAPOLIS (9/22/10)--Credit Union Centers will attend the 76th annual Indiana Credit Union League Convention Sept. 22-24 in Indianapolis and present data from Raddon Financial Group about shared branching. Shared branching users make up 6.8% of all households at the average credit union and bring in 12.7% of profit, Raddon said in its 2009 study. On average, the annual household profit from shared branching users is $90.25, compared with a profit of $7.07 from households that don’t use shared branching. Credit unions’ average profit on shared branching transactions is $47.53, according to the data. Credit unions can save money through shared branching, said Credit Union Centers. In April 2010, Credit Union 1, Rantoul, Ill., netted $7,152 in excess of its cost, which annualized to an estimated $85,824 in additional income for the credit union. Credit Union Centers has more than 200 shared branches in Indiana and 4,000 nationwide.


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