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Fourteen Puerto Rican CUs join FSCC network

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SAN DIMAS, Calif. (10/26/09)--Fourteen Puerto Rican credit unions are participating in shared branching through Financial Service Centers Cooperative, Inc. (FSCC)’s Shared Branching network. This addition represents the first shared branching partnership with credit unions headquartered in Puerto Rico in the CU Service Centers Network. Participating credit unions or cooperativas de ahorro y credito--as they are called in Spanish--include Abraham Rosa/Arcoop, Aguas Buenas/BUENACOOP, Aiboniteña/BoniCoop, Caribe FCU, CooPACA, Guaynabo, Jesús Obrero, Las Piedras, Naguabeña, Padre McDonald, Quebradillas, Rincón, Rodríguez Hidalgo, and Saulo D Rodriguez/Guracoop. The Puerto Rican credit unions form Circuito Cooperativo Inc. has been organized as the first cooperative corporation in Puerto Rico. The primary goal of Circuito Cooperativo Inc. is to unify marketing efforts behind shared branching in Puerto Rico. Helvetia del Caribe, a credit union data processor, will help FSCC launch the services in Puerto Rico. Helvetia del Caribe provides shared branching software and equipment to credit unions so they can provide shared branching services. “We are grateful to work with Circuito Cooperativo Inc. and Helvetia del Caribe,” said Sarah Canepa Bang, FSCC president/CEO. “Their commitment to cooperation and innovative support tools are helping multiple Puerto Rican credit unions gain access to shared branching. Due to this exclusive partnership, we expect the participation of Puerto Rican credit unions to continue to grow.” The 14 credit unions will add 36 branches in Puerto Rico. They will join Baxter CU of Vernon Hills, Ill., which has a branch already operating as an outlet in Carolina, Puerto Rico. FSCC provides nearly 6,200 full-service deposit-taking locations in the U.S. and overseas.