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Co-op Shared Branch rises to No. 3 among largest US branch networks

With 5,341 branch locations to US Bank's 5,244, Co-op Shared Branch has joined Chase and Wells Fargo in the top three, FDIC data shows.

June 12, 2015

FDIC data shows that the number of Co-op Shared Branch locations (5,341) has surpassed that of Bank of America branches (5,244), making it the nation's third largest branch network, according to a press release.

Co-op Shared Branch allows members of participating credit unions to enter the branch of any other participating credit union and transact account-related business as if they were in their own home branch.

In addition to the more than 5,300 "live teller" branches, Co-op Shared Branch includes nearly 1,800 self-service kiosks within selected 7-Eleven stores nationwide.

"In addition to member convenience, shared branching offers a means of generating revenue and operational efficiencies for participating institutions," Co-op President and CEO Stan Hollen said in the release. "If all of the nearly 7,000 credit unions in the U.S. were part of shared branching, our locations would number about 21,000."

The credit union industry's shared branch network is also gaining on the two remaining networks with more branches, the release said. Chase has 5,892 branches and Wells Fargo has 6,392 according to the FDIC.