ONTARIO, Calif. (12/12/11)--Financial Service Centers Cooperative Inc.'s shareholders have unanimously approved combining the company's operations with CO-OP Financial Services.
The transaction plan was originally announced in September and is expected to close in early 2012, unifying credit union shared-branch services of the two organizations.
"This is a milestone day in our work to blend the strengths of both companies, creating a more tightly integrated shared branching network," said Stan Hollen, CO-OP president/CEO. "The combination of services will result in efficiencies and economy of scale in branding, technology and administrative costs that will benefit all shared branching participants."
Between the two companies, more than 1,700 credit unions nationwide participate in shared branching, making more than 4,400 physical branch locations available to their members, plus 2,200 Vcom kiosk locations at 7-Eleven stores.