RANCHO CUCAMONGA, Calif. (11/6/13)--CO-OP Financial Services announced Tuesday it will extend its partnership with El Circuito Cooperativo Inc., the company's Puerto Rican shared branching business partner.
Twenty-two credit unions and 59 branches participate in El Circuito Cooperativo Inc.
El Circuito Cooperativo Inc. signed a marketing agreement in October 2009 with Financial Service Centers Cooperative Inc. (FSCC) prior to FSCC's merger with CO-OP Financial Services in December 2011. The new agreement extends the relationship of the two companies to marketing, selling and servicing the CO-OP Shared Branching network throughout Puerto Rico.
"El Circuito has been an outstanding partner in our mutual goal of ensuring that credit union members in Puerto Rico have the same convenient access to branch services as the largest financial institution," said Sarah Canepa Bang, FSCC president/CEO and CO-OP Shared Branching chief strategy officer. "We look forward to not only extending the reach of shared branching in the Commonwealth, but working with El Circuito to help our clients transform their branches so they remain centers of useful services and revenue well into the future."
CO-OP Shared Branching enables members of participating credit unions to enter a branch of any other participating credit union and conduct their business as if they were in their home branch. The network includes 5,000 "live teller" branches in the U.S., as well as 2,000 self-service location.
"This new agreement allows us to work even more closely with CO-OP Shared Branching and provide a greater range of services to our clients," said Kerwin A. Morales Rivera, El Circuito Cooperativo Inc. president. "As the world's leading shared branch network, CO-OP Shared Branching is the right partner to help us advance the credit union movement in Puerto Rico."