San Dimas, CA, October 23, 2009 --(PR.com
)-- Fourteen Puerto Rican credit unions are celebrating a milestone this week as they begin participating in Shared Branching through Financial Service Centers Cooperative, Inc. (FSCC), the nation’s largest and most convenient credit union Shared Branching network. This addition represents the first shared branching partnership with credit unions headquartered in Puerto Rico in the CU Service Centers Network®.
Participating credit unions or cooperativas de ahorro y credito, as they are called in Spanish, include Abraham Rosa/Arcoop, Aguas Buenas/BUENACOOP, Aiboniteña/BoniCoop, Caribe Federal Credit Union, CooPACA, Guaynabo, Jesús Obrero, Las Piedras, Naguabeña, Padre McDonald, Quebradillas, Rincón, Rodríguez Hidalgo, and Saulo D Rodriguez/Guracoop.
The Puerto Rican credit unions together form the organization, Circuito Cooperativo Inc., which has been organized as the first cooperative corporation in Puerto Rico. The primary goal of Circuito Cooperativo Inc. is the unification of the marketing efforts behind shared branching in Puerto Rico. New cooperatives in Puerto Rico interested in offering shared branching services through FSCC may contact Circuito Cooperativo Inc. by visiting www.circuito.coop.
According to Katherine De La Cruz, President of the Board of Directors of Circuito Cooperativo, she along with other credit union officials in Puerto Rico have been anticipating the launch of shared branching services, “Our relationship with FSCC is exciting as together we have been working hard to bring shared branching to Puerto Rico. I am very proud to launch these services and reap the benefits that FSCC’s shared branching services will provide to Puerto Rican credit unions in the network. With so many advantages, shared branching is a significant tool for us to continue to grow our membership as well as services to meet our members’ needs.”
Helvetia del Caribe, a credit union data processor, is in partnership with FSCC to launch the services in Puerto Rico. Helvetia del Caribe is providing the shared branching software and equipment to enable the credit unions to provide shared branching services.
“We are grateful to work with Circuito Cooperativo Inc. and Helvetia del Caribe. Their commitment to cooperation and innovative support tools are helping multiple Puerto Rican credit unions gain access to shared branching,” says Sarah Canepa Bang, President/CEO, FSCC. Due to this exclusive partnership, we expect the participation of Puerto Rican credit unions to continue to grow.”
These fourteen credit unions will add 36 branches for members to access in Puerto Rico. They will join Baxter Credit Union of Vernon Hills, Illinois, who has a branch already operating as an Outlet in Carolina, Puerto Rico.
“The participation in Puerto Rico is a demonstration of cooperation and trust. This is significant as we think back on the celebration of International Credit Union Day on October 15th. We are not only working cooperatively to provide access to credit union members, but also this signifies the credit unions’ support for The Movement, for each other, and most importantly for their members,” adds Ms. Bang.
About Financial Service Centers Cooperative, Inc. (FSCC)
FSCC is the nation’s largest and most convenient credit union Shared Branching Network providing nearly 6,200 full service deposit-taking locations in the U.S. and five foreign countries. FSCC’s innovative use of technology allows it to offer 24/7 access for financial services at more than 2,200 7-Eleven® Vcom® Units. FSCC credit unions represent $141 billion in assets. Since 1999, FSCC has returned over $14 million to its members through patronage dividends, rebates and return of capital. For more information, please visit www.fscc.com or call 888-372-2669 ext. 1235.