SAN DIMAS, Calif. -- Financial Service Centers Cooperative, the national shared branch network headquartered on the West Coast, has found good times so far in 2007.
FSCC announced that it has signed 20 new contracts with CUs representing over $1 billion in assets through April.
The addition brings nearly 35 more branches and over 155,000 more CU members into shared branching from Arizona, California, Illinois, Maine, Massachusetts, New Jersey, New York, Nevada, Rhode Island, Texas and Washington.
"Providing a wide array of delivery channels and access points makes FSCC shared branching successful," explained FSCC CEO Sarah Canepa Bang. "Since the beginning of the year, we have been moving at a quick pace to provide more outlets for credit unions. Collaborative efforts with partners allow us to enhance network programs by adding even more access points."
Bang sees the network evolving and believes that credit unions have the potential to become the most convenient financial institutions in the country. "As an industry, it's important we show ourselves to be convenient. We leave no stone unturned when researching the most innovative solutions to benefit credit unions and members," she added.
FSCC had a fast start in 2007 with 46 new shared branch locations in place by the end of January, adding two branches a day which belonged to CUs that had signed on previously. That number has jumped to nearly 90 new shared branch locations to date and keeps growing. Additionally, during the first quarter, FSCC credit unions have experienced a 12% increase in transactions over this time last year.