CO-OP Shared Branching has announced Phase 2 of the pricing changes for shared branching transactions. This change will help balance the cost of accessibility and service, embracing a standardized national pricing structure.
Phase 1 had occurred on June 1, 2016 with a $0.60 increase for national withdrawal and large-deposit (groups of 6 or more checks) transactions.
Phase 2, effective February 1, 2018 is a $0.40 increase, also applicable to the same set of national withdrawal and large-deposit transactions. The increase, passed to the acquirer, ensures participating shared branch credit unions are more fairly compensated for teller and facility costs.
CO-OP is committed to expanding the member value proposition of the shared branching network and working with credit unions to continue to grow in the credit union movement. CO-OP will continue to evaluate and implement pricing changes in 2018 to maximize value in CO-OP Shared Branching as an issuer and acquirer.
Please note this price increase is only for out of network transactions. Our in network pricing is remaining the same.