Shared Branching Helps During Natural Disasters
Elevations Credit Union, of Boulder Colorado, closed its 10-branch network Thursday and Friday (September 12-13, 2013) due to heavy rain and flooding. The western end of Boulder was evacuated during intense storms and flooding last week. Susan Green, vice president of marketing and communications said "So many roads and bridges were closed people could not get to work and we did not want them to try yesterday or today. We are looking to have a normal opening on Saturday. Our members have been able to bank through online and mobile banking, our ATMs have been available and they can do shared branching transactions."
As reported earlier Friday on CUJournal.com, Boulder Municipal Employees FCU closed its single office; Premier Members FCU shut down its Longmont location, IBM plant and call center; and Boulder Valley CU closed its Arapahoe and Louisville offices.
This type of weather is unpredictable and can create difficult circumstances for members. With the Missouri Shared Branch Network, credit unions can lean on each other to provide direct access to members' funds in an immediate manner.
The Missouri Shared Branch Network offers dozens of locations and provides the fourth largest branch network throughout the state. The Credit Union Shared Branch Network gives credit union members more options, including more locations, more hours of operation and more convenience. With 97% of credit unions having less than 10 branches and 69% having only one branch, it only makes sense to join the network and increase your reach and accessibility for your members.
Are you a Shared Branch member? If so, when your branches have to close due to weather conditions, we suggest you post signs that indicate the closest participating location(s). This little extra effort will ensure your member’s experience is a more convenient one.