ALBANY, N.Y. – Credit union service organization UsNet, a provider of shared branching solutions, has added the Albany-based Capital Communications Federal Credit Union to its shared branching network.
The $1.1 billion asset credit union, which was founded in 1953 and currently serves 117,000 members, joined the network as both an acquirer and issuer. Under the agreement, members of other credit unions in the network will be allowed to perform transactions at CAP COM’s nine branch locations. Conversely, members of CAP COM will be permitted to perform transactions at more than 5,000 participating credit union shared branches.
CAP COM’s partnership with UsNet brings the total number of shared branches in New York’s Capital Region to 32.
“This new partnership with UsNet allows CAP COM members to open the doors at thousands of credit unions across the country and perform their financial transactions,” said CAP COM President and CEO Paula Stopera. “Similarly, we’re pleased to welcome credit union members nationwide to the CAP COM branches here in the Capital Region.”
UsNet is a credit union service organization owned by New York’s credit unions and the New York Credit Union Association. The CUSO provides shared branching services to participating credit unions as part of CO-OP Shared Branching’s national network. Currently, more than 1,800 credit unions representing 45 million members participate in CO-OP Shared Branching.
“UsNet is proud to welcome CAP COM and its more than 100,000 members to the shared branching network,” said William J. Mellin, NYCUA president and CEO. “We look forward to continuing to expand the network, and building an even stronger credit union movement together.”
About UsNet: Universal Sharing Network (UsNet) empowers credit unions to expand their reach through participation in shared branching. As a partner of CO-OP Shared Branching, UsNet offers credit unions and their members access to more than 5,500 Shared Branch locations in and beyond the U.S. For more information, www.universalsharing.com.