Credit Union Shared Branching Operations Officially Unified
CO-OP Financial Services and FSCC’s agreement to combine operations is now complete, and the two largest credit union shared-branching organizations are one company as of the New Year.
January 24, 2012
The agreement between CO-OP Financial Services and Financial Service Centers Cooperative, Inc., (FSCC) to combine operations, originally announced in September, is now complete, and the two largest credit union shared-branching organizations are officially one company as of the New Year.
Signing the final paperwork to conclude the agreement were Sarah Canepa Bang, now President and COO of FSCC and Chief Strategy Officer of CO-OP Shared Branching; and Stan Hollen, President/CEO, CO-OP Financial Services. Bang joins the CO-OP Shared Branching leadership team, which also includes Craig Beach, President and Chief Operating Officer of Credit Union Service Corporation, a subsidiary 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. “Now under the CO-OP Shared Branching business line are FSCC and the operations of Service Centers Corporation and Credit Union Service Corporation.”
More than 1,700 credit unions nationwide participate in shared branching, making more than 4,400 physical branch locations available to their members, in addition to 2,200 Vcom® kiosk locations at 7-Eleven® stores. For more information, visit www.co-opfs.org.
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