Benefits (6)
Why have them 
drive when they could 
Convenience
Sprig by CO-OP is a non-branded*, low cost, turnkey mobile shared branching app that provides your member with virtual access to their accounts at participating credit unions. If getting to a shared branch is not convenient, they can simply open the app and complete their transaction anywhere, anytime with any Sprig participating shared branching credit union. Watch this VIDEO.
Is your credit union eligible for Sprig?
All shared branching credit unions on the CO-OP Shared Branching network are eligible to participate. There are no up-front costs for the software or static monthly costs. Only per transaction fees. Currently, there are more than 1,200 credit unions participating. Implementation lead-time is as short as two weeks for a credit union currently participating in shared branching.
What does Sprig provide for your members?
Sprig is designed to be complimentary to your current online banking by providing your members with a secure mobile banking solution that's easy-to-use. They will enjoy:
- real-time:
- credit union account aggregation
- viewing of balances and transaction history
- Person-to-Person (P2P) payments between participating credit unions
- P2P payments to Anyone
- transfers between their accounts at your credit union as well as to and from their accounts at other participating credit unions
- Remote Deposit Capture (RDC)
- 24 x 7 email, telephone and in-app support through CO-OP Shared Branching
*At this time Sprig is generic. A white-label solution will be available in the future that will allow credit unions to custom brand.
What's in it for my credit union?
Sprig is an affordable way to provide your members with a convenient way to access their accounts with you as well as with other credit unions, especially if you don't currently offer a mobile banking, P2P or an RDC solution today. There are no upfront costs, static monthly costs or user fees. Only per transaction fees. Support is not an added burden on your staff. CO-OP managed the security risks so you don't have to with 256-bit SSL encryption and data security that meets or exceeds FFIEC guidelines and SAS70 certified data centers. See the Marketing menu on our website for free marketing collateral.
How do we get started?
All you need to do is contact This email address is being protected from spambots. You need JavaScript enabled to view it. and let us know you're interested. We're here to help you find the right fit for your members.
Download the app now
Click here to learn more about our Disaster Plans.
Shared branching is a disaster recovery solution. It provides the credit union and it's members peace of mind in the event of a disaster no matter where they are.
It’s a disaster to members local to a branch when you’ve made the very difficult decision to close or move a branch. Shared branching gives you a silver coin in your pocket solution to provide your members an alternative that facilitates them to continue to transact with you at a location convenient to them using the shared branching network. With over 5,500 branches across the nation, Puerto Rico, Guam, Germany, Italy, United Kingdom, Belgium and the Netherlands as well as a mobile app, your members can transact with you anywhere, anytime at a very reasonable cost to you.
Contingency Plan?
A natural or unnatural disaster can hit anywhere, anytime, and at any level. You only have to make a quick glance on FEMA’s website or listen to the daily news to understand that on any given day there are countless disasters occurring around the world which potentially could include your family, friends or your members, their family or friends. Are you prepared to be able to service your family, members or employees should a major disaster hit your area or theirs? Shared branching is an affordable disaster recovery and risk reduction solution. The network of shared branching credit unions can give you and your members peace of mind in times such as this.
Already a participating credit union?
Login to our website and make sure your credit union front line staff are ready to perform one of the most priceless benefits, Credit Unions helping Credit Unions, by making them aware of the Florida Disaster Recovery - Offline Procedures.
For more information about our shared branching disaster recovery solution, Contact Us.
Types of Account Supported
- Share Accounts - savings, checking, club account, etc.
- Loan Accounts - credit union loans, lines of credit, credit cards
Services offered
- Deposits
- Withdrawals
- Balance Inquiries
- Transfers between accounts
- Loan Payments
- Statement Print of account history
Other Ancillary Services (varies by location)
- Travelers Checks
- Money Orders
- Issuance of Official/Teller Checks
- Change of Address
- 24-Hour ATMs
Availability of Locations
- Credit Unions can offer locations nationwide without spending a large amount of capital on brick and mortar branches. Does my CU Participate? or Find a Shared Branch
Member Retention
- Members will stay with their credit union rather than join another financial institution whose locations may be more convenient to a member.
Potential Members
- Shared branching offers greater convenience and provides the incentive for potential members to join and use their local credit union.
Greater Service Area
- Shared branches deliver services more economically in areas where credit unions do not have enough members to justify a branch.
Branch Utilization
- Shared branching can breathe new life into under-utilized branches.
Disaster Recovery
- Shared branches can support credit unions during a disaster by providing service to members via connectivity to host sites or ‘hot’ sites.
Existing Members
- Members and their families will find shared branches more convenient and, therefore use more credit union services.
Potential Members
- Shared branches offer greater convenience and provide the incentive for potential members to join and use their credit union.
Members Who Travel
- Shared branches offer greater convenience for members who travel for business/pleasure in Florida, across the United States, DC, Puerto Rico, Guam, Italy, Germany, Netherlands and Canada.
Members Who Relocate
- Credit union members are more likely to remain members and continue being serviced by their credit unions through shared branches.
College Students
- Whether in Florida or out of state, college students are able to remain active members of their credit union through shared branching. Parents are able to provide their children with access to financial services through their credit union no matter where the student goes to school.
Extended Hours
- 40% of Florida shared branches have evening/Saturday hours.
Symbol of Cooperation/Reciprocity
- Shared branches are a visual symbol of the cooperative spirit of the credit union industry. The shared branch logo is a national trademark.
Improved Image
- The visibility of cooperative branches improves the image of credit unions and is a constant reminder to consumers that credit unions are an alternative to other financial institutions.
Improved Industry Competitiveness
- By combining resources, credit unions decrease the cost of delivering member service and increase service distribution channels. This improves the credit unions’ ability to compete with other financial institutions.
Creating a National Network
- Shared Services for Credit Unions (SS4CU) is the Florida credit union’s gateway to the national network, CO-OP Shared Branch. Today, the collaboration of branches puts credit unions in the top 5 in the nation for number of branches. If all credit unions nationwide were to share their more than 20,000 branches, the credit union industry would blow away the competition.
Our success is your success!
Since 1998, Shared Services for Credit Unions has given back $12 million in the form of patronage rebates to its participating credit unions and dividends to its Stockholders. SS4CU is a CUSO, meaning, a Credit Union Service Organization, owned and controlled by credit Unions for the benefit of credit unions. It’s a win-win-win for the shared branching network, the credit unions, and their valued members.
Following the receipt of the year-end audited financial statements; each participating credit union is eligible to receive a check based on their participation in the network, their share of total transactions processed, and the Stock they own, if any.
Patronage Rebates
The Board approved the 2021 revenue distribution, including dividends, totaling 80% of Net Income Before Tax (NIBT). The patronage rebate which is 70% of NIBT was distributed as 10% to Issuers and 90% to acquirers, based on completed transaction volumes. 10% of NIBT is distributed out of retained earnings as a Stockholder dividend. This totaled $341,208 given back to the credit unions as they are the backbone of the Florida network.
It’s SS4CUs way of thanking credit unions for the success of shared branching. Click here to learn more.....
We know, you know, they know!
Creating an awareness at a national level takes the cooperation of the network, the credit union and the members. Together they create an awareness that cultivates a successful national shared branching network in line with the industry’s mission of ‘people helping people’ and the cooperative nature of credit unions. Regional networks across the United States work with their participating credit unions providing them marketing materials, both physical and electronic, as well as training materials and videos for their members. Each participating credit union is encouraged to promote shared branching.
Evidence of its success is based on a simple fact that members use shared branching. Shared branching transaction volume continues to grow year over year both in Florida as well as nationally. Members continue to expect their credit union to provide them convenient ways to transact. Shared branching provides the convenience of a branch nearby whether they’re near home, work, school or traveling.
People young and old still appreciate the convenience of being able to walk into a branch and work with someone in person. When participating in shared branching through Shared Services for Credit Unions the credit union becomes part of the national CO-OP shared branching network giving their members access to nearly 5,500 credit union branches for access in all 50 states, as well as Puerto Rico, Guam, United Kingdom, Netherlands, Italy and Germany. The national network logo, advertised by every credit union, creates a national stamp every participating credit union member has learned to recognize.
Click here to search for shared branching locations near you.
Shared branching is the cooperation between credit unions to share their branches for basic financial transactions as a convenience for their members. Wow! What a concept right? You might say, “Banks don’t do this.” and you’d be correct. Sharing branching is the credit union industry’s way of competing with the big banks that have a branch on every corner. The aggregate of shared credit union branches has now placed credit unions among the top 5 financial institution in number of branches. It facilitates credit unions to remain their member’s primary financial institution (PFI) no matter where they move, travel and work, as well as, being an excellent resource for disaster recovery.
Credit Unions operate under strict and limiting rules. They can only conduct business with members within their field of membership. They also operate under the competitive disadvantage of limited channels of distribution or branching system. When a credit union wishes to locate an office to serve its membership, it can only select an area where there are enough members to justify and support the facility. Because of these limitations, many credit union members are severely underserved.
For these and many other reasons shared branching is the solution for many credit unions nationwide to partner together to form a network of branches credit union members can utilize.
