What UsNet does

UsNet (Universal Sharing Network), legally UsNet Shared Branching Solutions, is a private credit union service organization headquartered in Albany, New York. Founded in 1993 by New York credit unions and affiliated with the New York Credit Union Association, UsNet operates as a regional shared branching network within the CO-OP Shared Branch national network. The company serves credit unions in New York, New Jersey, Connecticut, and Massachusetts, sponsoring more than 200 shared branches and providing member credit unions access to over 5,000 locations nationwide and 2,000 self-service locations through the CO-OP partnership.

The core platform is a shared branching data switch that uses a real-time require-and-reply transaction protocol. When a member requests a transaction at a participating Acquirer branch, a verification request is routed to the home Issuer credit union and answered with member and account data in approximately five seconds; transactions complete only when within Issuer parameters, with nightly automated settlement of all transactions and fees. Additional product lines include the CO-OP My Deposit suite (desktop, mobile, and back-office branch remote deposit capture), the 24/7 CO-OP Member Contact Center, a national shared branch locator app, marketing support services for participating credit unions, and a Quality Assurance Program with mystery shopper audits enforcing network neutrality.

UsNet earns revenue through a differentiated pricing model. Issuer credit unions pay per-member fees starting at $2.10 plus monthly connectivity fees of up to $450, while Acquirer credit unions receive a $1.30 per-verification fee and retain 100% of transaction fees, paying a $100 monthly support fee for operational, marketing, training, and analytics resources. Governance is led by a Board of Directors drawn from major New York credit union leaders and an executive team consisting of CFO Edward W. Kovalefsky and COO William Bywater, the latter appointed in 2015 after joining the predecessor organization in 1999.

Name

UsNet

Legal name

UsNet Shared Branching Solutions

Website

https://universalsharing.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1–10 employees

Short description

UsNet is a private credit union service organization operating the Universal Sharing Network, a shared branching platform connecting New York-area credit unions to the CO-OP national network's 5,000+ locations and providing remote deposit, contact center, and marketing support services.

Ownership category

akta.pro rank

Product category

Credit Union Shared Branching Services

SIC

Finance Services (6199)

akta.pro primary industry

ATM Switching, Routing & Network Services (FSAMAOAD)

Keywords

• Shared branching services
• Credit union network
• Remote deposit capture
• Financial services infrastructure
• Transaction processing

Headquarters

HQ city

Albany

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Issuer Per-Member Fees: Issuers (credit unions whose members transact at other branches) pay a per-member fee of $2.10 or more, depending on transaction types. Also includes monthly connectivity fees up to $450 per month depending on provider.
2. Acquirer Transaction Fees: Acquirers (credit unions that process transactions for other credit unions' members) receive a $1.30 per member verification fee plus 100% of transaction fees. Monthly support fee of $100 entitles Acquirers to operational support, marketing materials, training, and data analysis.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

UsNet operates a shared branching network that connects credit unions in New York State and surrounding regions to over 5,000 locations nationwide through the CO-OP Shared Branch Network, enabling members to perform deposits, withdrawals, transfers, loan payments, and account inquiries at any participating branch as if at their home credit union. The service runs on a real-time Data Switch Verification System with require-and-reply transaction processing, automated nightly settlement, and supports both Issuer and Acquirer credit union roles with differentiated fee structures.

Product overview

UsNet (Universal Sharing Network) is a shared branching platform and network operator that connects credit unions in New York State with the CO-OP Shared Branch national network, providing access to over 5,000 shared branch locations and 2,000 self-service locations. The core UsNet Shared Branching Platform enables members of participating credit unions to conduct transactions at any network location as if at their home branch. Additional add-on services include CO-OP My Deposit (remote check deposit via desktop, mobile, and branch), the CO-OP Member Contact Center (24/7 live support), the CO-OP Shared Branch Locator mobile app, and Marketing Support Services for participating credit unions. The platform uses a real-time require-and-reply system with automatic nightly settlement.

Differentiator

Problem solved

Functional benefit

Products and services

• UsNet Shared Branching Network Core shared branching network that connects credit unions in New York State and surrounding regions with thousands of participating locations nationwide and internationally, enabling members to perform person-to-person teller transactions (deposits, withdrawals, transfers, loan payments, account inquiries, statement printing, money orders, gift cards) at any participating branch as if at their home credit union.
• CO-OP My Deposit Solutions Suite of remote deposit capture services including CO-OP My Deposit (home/office computer scanning), CO-OP My Deposit Mobile (smartphone photo deposits on Android and iPhone), and CO-OP My Deposit Branch (back-office check imaging conversion at credit union branches).
• CO-OP Member Contact Center 24/7 live operator support service for credit union members, providing personalized account and transaction assistance during after-hours periods and overflow situations through toll-free routing.
• CO-OP Shared Branch Locator Locator service for finding participating shared branch and kiosk locations, available as a free iPhone and Android mobile application and as an online tool and telephone service (888-SITE-CO-OP).
• Quality Assurance Program Network integrity monitoring program for shared branching locations, including mystery shopper evaluations to ensure consistent customer service levels and adherence to network neutrality standards across participating branches.
• Marketing Support Services Turnkey marketing campaigns and customizable materials (statement inserts, flyers, posters, web copy, web banners, social media tools, direct mail pieces) along with analytics software that helps participating credit unions promote shared branching and identify optimal network participation levels.
• CO-OP Shared Branch Network Certification Onboarding and certification service for credit unions joining the CO-OP Shared Branch Network, comprising questionnaire and Price-Quotation Worksheet (PQW) completion, a 6-8 week certification period, system testing, and staff training before going live.

Quantifiable outcome

• 5,000+ shared branch locations nationwide and abroad accessible to members
• +3 more outcomes

Named customers20 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

One partnership is on record.

• CO-OP Shared Branch NetworkcoreStrategic or Co-development PartnerUsNet is part of the CO-OP Shared Branch national network. Through this partnership, UsNet enables credit unions in New York State to share facilities with thousands of national and international locations. The network provides shared branching certification, marketing portal access, and a comprehensive member locator system.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Jack Henry & Associates: Core processor and technology provider to credit unions and community banks. Comparable to UsNet as a technology enabler for credit union member transactions, with overlapping customer base though much broader product portfolio.
• PSCU (now Velera): A large CUSO providing shared services, payments, and technology to credit unions nationally. While its primary focus is payments and card services rather than shared branching, it is a comparable cooperative-services organization serving the same credit union customer base.
• CO-OP Financial Services: Operates the CO-OP Shared Branch Network under which UsNet functions as a regional sponsor. CO-OP provides the underlying technology, certification, and locator services that UsNet's platform depends on, making it both a critical partner and a broader incumbent in the same shared-branching value chain.
• Fiserv: Major core banking and payments processor serving thousands of credit unions and banks. Comparable to UsNet in providing transaction-processing infrastructure that credit unions rely on for member-facing services, though at far greater scale and breadth.
• CUNA Mutual Group (TruStage): Credit union-owned insurance and financial services company providing shared services to credit unions. Comparable to UsNet as a cooperatively governed organization embedded in the credit union ecosystem, though focused on insurance and lending products rather than shared branching.

Direct peers

• CU*Answers: A credit union CUSO offering core processing, network services, and shared branching-related infrastructure to credit unions. It is comparable to UsNet as another cooperative-style service organization operating in the credit union technology and operations space.
• NCR Atleos: Operates the Allpoint ATM network and ATM-as-a-Service offerings for financial institutions. Comparable to UsNet as a transaction-routing/access network serving credit unions and banks, particularly relevant as UsNet expands self-service and digital deposit capabilities.

Regional players

• Open Lending: Lender enablement platform serving credit unions and banks. While not directly in shared branching, it operates within the credit union services ecosystem and serves a similar cooperative-oriented customer base.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UsNet