Effective May 1st, 2025, Co-Op Shared Branching is implementing an additional form of identity verification for Co-Op Shared branching users with an out-of-state ID.
With account takeover fraud on the rise, this new ID-proofing measure will help credit unions make certain it is you trying to access your accounts, not a fraudster.
Where will this take effect?
This will be network-wide, but only impact Co-Op Shared Branching users with an out-of-state ID. Meaning if you have a Washington State ID, but you bank at a Shared Branching location in Portland, OR, the teller will use this additional authentication method.
This additional layer of authentication will be used for loan payments, cashier’s checks, deposits, withdrawals, transfers and account inquiries.
How does it work?
In addition to IDs, tellers will now be using a QR code and one-time passcode multi-factor authentication verification.
Follow these simple steps when banking at an out-of-state Shared Branch location:
- Scan the QR code that will be located in the branch or visit verify.coop.org.
- Select your credit union’s name from a drop-down list.
- Enter your member number and the last four digits of your social security number.
- Upload a photo of your ID.
- Take a selfie.
Tip: Save your validation for an even quicker experience next time!
- Show your one-time passcode to the teller (passcode is valid for 20 minutes).
What is the purpose of these additional steps?
This additional ID-proofing security was implemented by Co-Op Shared Branching to reduce any risk of fraud through out-of-state Shared Branch transactions. It helps tellers verify the authenticity and identity of the member in the branch, and help us be sure that it is you in the branch, not a fraudster posing as you.
How long does the process take?
It is an instantaneous verification. You will just have to follow a few extra steps the first time, but if you save your validation, it will be a quick and easy experience every time!