FSCC Reports Very Strong 2004

SAN DIMAS, Calif. – The Financial Service Centers of America did not mention its pending increased cooperation with another shared branching network, the Service Centers Corporation, but nonetheless reported that it did just fine on its own in 2004. In 2004 the network saw 209 new shared branching locations open and has 31 more in the pipeline for 2005, the network said. Sarah Canepa Bang, FSCC CEO made the announcement in a year-end recap letter to participating credit unions. 2004 marks the fifth year in a row of progressively accelerating and record breaking growth for the network. “We are anxious to see what we can do in 2005,” said Bang. “Shared branching is a significant delivery channel for hundreds of credit unions; the timing is right for even greater advances.” The FSCC and SCC are expected to make some kind of deal. Both Bang and executives with the CO-OP Network, which owns SCC, have estimated an announcement about the arrangement will come in the first half of 2005.