Welcome Ambridge Area FCU
Welcome Ambridge Area FCU to the shared branching network. Ambridge Area went live on the network in August as an issuer only.
For your convenience, attached is the updated PaCUSC Contact Listing.
Educating Members on Proper Identification
Educating members about the information they will need to provide to the acquirer when requesting a shared branching transaction will ensure your member has a better experience. We hear from acquirer locations all the time that members don’t want to provide the information necessary and required to perform their transaction.
When a member wants to complete a shared branching transaction, there are policies and procedures that dictate what the member must provide in order for this transaction to be completed. The member must provide their credit union name, account number, valid government issued photo identification, and their last four digits of their social security number. If the member refuses or is unable to provide this information, their transaction can not be processed and will be referred back to their credit union. We understand that you don’t usually ask members for all of this information when they come into your office; however they must
provide this information if they would like to perform a transaction at a shared branching location. This is for everyone’s protection.
We have recently made changes to the funds availability sign
to also list this required information. We encourage acquirers to post this sign in their lobbies to help emphasize the requirement.
We also encourage issuers to educate their members of this requirement via newsletter articles, web articles or any other means you can possibly use. We want to make sure the member’s experience is a pleasant one.
Cash Withdrawal Limits
Credit unions are allowed to limit the cash they will allow members to withdraw. The policies and procedures indicate outlets must provide at least $500, and stand alones must provide at least $1,000. These limits are in place to ensure members can withdraw some cash; however most credit unions, not all, have higher withdrawal limits. Please remind your staff and members these limits are in place. If a member is planning to withdraw a large amount of cash, we recommend they contact that location to inquire about their withdrawal limit. This will provide a better experience for the member.
CO-OP Shared Branching Locator Web Service
CO-OP Shared Branching provides many ways for participating credit unions’ members to locate one of the more than 4,600 shared branching locations, from the locator website, to the iPhone app, to finding branches by phone. Additionally, CO-OP Shared Branching offers participating credit unions with a XML based shared branching locator web service, a program that makes it easy and seamless for members to search for locations without leaving their credit union’s website. By deploying this service, CO-OP Shared Branching locations will show up on their current location search feature, and appear as one of their own branch locations.
Credit unions can visit www.cuservicecenter.com/webservices
to request an API key to use this service, as well as submit technical questions and download maps based on the latitude and longitude inputted. By choosing to utilize this service, locations will be synchronized with www.cuservicecenter.com
, ensuring the most accurate results as locations are added or updated in the database weekly.
Credit unions that do not utilize their own web locator at this time can take advantage of the many other locator tools made available by CO-OP Shared Branching:
- CO-OP Shared Branching Locator Website: www.cuservicecenter.com
- “Find Branch” iPhone App: Members can download the “Find Branch” iPhone app for free by visiting the Apple App Store. Branches can be located either near their current location or any address that is inputted in to the search fields.
- Locate branches by phone: Members can call 1-800-919-2872 to find a branch near them.
- GPS Download: Locations can be downloaded into any GPS device by visiting www.cuservicecenters.com/downloads.aspx
Please contact Sandy Shenk at firstname.lastname@example.org
or 1-800-932-0661, ext. 5267, with any questions regarding this service or any of the other locator tools.
Andrews FCU Launches International Shared Branching Initiative
Andrews FCU, a participant of CO-OP Shared Branching since 2004, recently deployed six of their International branches to the shared branching network. Three branches in Germany, two in Belgium and one in The Netherlands are now open as shared branching acquirers. They are accepting guest member transactions from members of any participating credit union, expanding CO-OP’s International footprint. Along with Germany, Belgium and The Netherlands, members of participating credit unions can also find shared branching locations in Italy, Guam, Japan, Puerto Rico and the United Kingdom.
for more information on these locations as well as those found nationally.
CO-OP NextGen ATM Begins Live Testing at Red Rocks Credit Union
CO-OP NextGen ATMSM, designed to bring shared branching and greater self-service capabilities to automated teller machines (ATMs), has entered live beta testing at Red Rocks Credit Union in Colorado. This is in advance of general market availability which is planned for September 2012.
CO-OP Financial Services and Diebold, Incorporated, are developing the new application software, which enables members of participating shared branching credit unions to conduct nearly all branch transactions, including loan payments, at Diebold ATMs. The CO-OP NextGen ATM device is operating at the drive-up ATM outside of Red Rocks CU’s main branch.
“CO-OP NextGen ATM is an industry-first integration of ATMs and shared branching, allowing credit unions to provide the self-service members increasingly demand in the convenient, proven channel of the ATM,” said Stan Hollen, President/CEO, CO-OP Financial Services. “Red Rocks CU is a great partner in the development of CO-OP NextGen ATM, which is going to help all credit unions get more out of their existing ATMs and improve the member’s self-service experience.”
CO-OP NextGen ATM is a software solution, enabling credit unions to use their existing Diebold ATMs. Members can opt for a shared branching option to access all of their accounts with the credit union, not just those linked to the card as with standard ATM transactions. While giving members more ways to manage their accounts at their convenience, the product also frees in-branch staff to concentrate on more complex revenue activities.
“Red Rocks CU is proud to participate as a beta for the next generation of ATM technology,” said Jason Nelson, Vice President of Service for the credit union. “Our credit union is passionately focused on providing greater financial returns to our membership as a result of increased operational efficiencies and lower operating costs. Reducing the costs associated with transactions is an important part of that equation. At the same time, our members desire a simplified, intuitive technology experience. This next generation of ATM technology promises to enhance that experience. It also allows us to provide our members with secure, 24-hour access to all of their accounts. This was an opportunity we couldn’t pass up.”
CO-OP NextGen ATM will work with all shared branching platforms within the CO-OP Shared Branching family. For more information, visit www.co-opfs.org
CO-OP THINK Prize 13 Entry Period Now Open
The entry period is now open for the CO-OP THINK Prize 13, with entrants having until Friday, September 28, 2012
to complete their round one application and become eligible for the $10,000 grand prize sponsored by MasterCard.CO-OP THINK Prize 13 contestants can find complete details and apply here: http://co-opthink.org/think-prize
“The purpose of the prize is to inspire innovative solutions to the issues confronting the credit union industry,” said Stan Hollen, President/CEO, CO-OP Financial Services. “We have had two wonderful examples of this with the winners of the 2011 and 2012 competitions, and we are looking for more great creative thinking to help our movement in 2013.”
The solutions put forward in the competition can take any form – such as an innovative application of technology, a new process for back office efficiency or a fresh approach to industry advertising and marketing. Though the ideas can vary widely, the judging criteria for entries are based on four main standards – impact, creativity, aggregation (the application of the idea across the industry) and implementation (the ability to be adopted quickly).
Round one entries that are judged to be among the best will be invited to participate as semifinalists in a second round, in which remaining entrants will be asked to develop a business plan for the idea. In the third round, three finalists will present their ideas at the THINK ‘13 Conference being held April 29 – May 2 in Chicago, Illinois, with the winner determined by conference attendees, online viewers, a panel of judges from CO-OP Financial Services, and an industry panel.
to enter your idea today, and for more information on CO-OP THINK and the THINK 13 Prize.