CO-OP, FSCC Complete Shared Branching Merger
CO-OP Financial Services has completed its merger with Financial Service Centers Cooperative, creating one nationwide shared branching operation for credit unions, the Rancho Cucamonga, Calif., CUSO announced Tuesday.
The new network comprises more than 1,700 credit unions, 4,400 branch locations and 2,200 kiosks in 7-Eleven stores, the company said.
Sarah Canepa Bang, CEO of 21-year-old FSCC since 1999, will continue as president and chief operating officer of FSCC and chief strategy officer of CO-OP Shared Branching, the company said. The leadership team also includes Craig Beach, president/COO of CO-OP subsidiary Credit Union Service Corp.
CUSC and FSCC will now be under the CO-OP Shared Branching business line, said Stan Hollen, president/CEO of CO-OP Financial Services.
“It is very gratifying to note that with the conclusion of our agreement, all the major pieces of the credit union movement’s decades-old shared branching initiative have been brought together,” Hollen said.
CO-OP Financial Services, meanwhile, said it now has more than 3,000 credit union members and also provides network, payment processing, e-commerce and call center services, with more than 30 million cardholders and 28,000 surcharge-free ATMs.