Death of the Bank Branch? CU Shared Branching Tops Biggest Banks Posted by AVCU on 3:31 PM

The 11/16 USA Today questions the future relevancy of financial institution brick and mortar branches in the face of increasing demand for on-line and mobile access by consumers. Some 62% of consumers prefer online banking to all other forms, yet the number of bank branches has quadrupled since 1970, when consumers had no access to ATMs or on-line banking. Different approaches to brick and mortar by all of the biggest banks are cited along with their numbers of branches. Credit unions are mentioned as benefiting from shared branching, which AVCU supports through a Vermont network connected to 6,700 locations nationwide. Read the full article here.

• Capital One - 1,000 branches
• Citibank -1,005 branches
• JP MorganChase - 5,400 branches
• Bank of America - 5,700 branches
• Wells Fargo - 6,200 branches
• CU Shared Branching - 6,700 branches