The CO-OP brand name will now be applied to the industry’s shared branching network, Stan Hollen, president/CEO of CO-OP Financial Services, announced at THINK 13 in Chicago.
CU Service Centers and its “swirl” logo and signage at participating credit unions will be replaced by CO-OP Shared Branch in a two-year rebranding process. Migration to the new logo will be done in a phased approach for the benefit of current shared branch users, as well as participating credit unions and state networks.
The decision on the consumer-branding initiative was approved by the Boards of Directors of Service Centers Corp., CU Service Corp. and FSCC, the three entities that comprise CO-OP Shared Branching.
“The merger of CO-OP and FSCC last year has led to a rapid expansion of the industry’s shared branching network – and the opportunity to unify the brand and make the unique credit union concept of shared branching much better known to consumers,” Hollen said. “We can do this by drawing on the CO-OP name, which is already well known to them through our ATM network.”
In March, CO-OP Financial Services announced that CO-OP Shared Branch had reached 5,000 “live teller” branches nationwide, trailing only three national banks in terms of branch locations. CO-OP Shared Branch also offers members access to more than 2,000 self-service locations at credit union branches and in select 7-Eleven stores nationwide.
“With all the positive attention credit unions are getting in the media, the timing of this change seemed especially right,” said Craig Beach, CUSC President/COO, and Sarah Canepa Bang, FSCC president/COO of and chief strategy officer of CO-OP Shared Branching, in a joint statement. “Leveraging CO-OP’s already strong brand recognition will help credit unions educate their members about the credit union difference, not to mention shared branching!”
CO-OP Network, which incorporates 30,000 ATMs nationwide, 9,000 of which are deposit-taking, is the largest credit union ATM network, and larger than any network operated by a bank.
CO-OP Financial Services is making a slight revision to the ATM brand as well, to ensure that the ATM and shared branch networks present the same look and feel to consumers. CO-OP Network is being rebranded as CO-OP ATM.