Financial Service Centers Cooperative has announced that 14 credit unions on the island of Puerto Rico have banded together to begin to participate in shared branching through its national shared branching network.
The 14 credit unions formed the organization Circuito Cooperativo Inc. in order to unify their marketing and service options on the island, including offering shared branching.
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."
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.
