– Two California-based financial transaction technology firms have joined World
Council of Credit Unions (WOCCU) as associate members, bringing to eight the
number of organizations that function as non-voting associate members of the
international credit union trade association.
new associate member organizations include: CO-OP Financial Services, the parent
company to CO-OP Shared Branching based in Rancho Cucamonga,
Calif.; and Financial Service Centers
Cooperative (FSCC) based in San Dimas,
Calif. Both firms were
unanimously approved for membership at WOCCU’s recent board of directors
meeting in Naples, Fla. Associate members enjoy all the
benefits of WOCCU membership, including seats at the annual general meeting.
However, associate members may not vote for members of the WOCCU board nor
serve on the board.
Financial Services is a credit union service organization (CUSO) that provides
card services, ATM network services and shared branching for approximately
2,000 credit unions in the United
States. The 25-year-old CUSO, owned and
controlled by credit unions, supports the largest network of credit union ATMs
with more than 25,000 installations in 10 countries. Through CO-OP Shared Branching,
headquartered in Duluth, Ga., the firm offers the largest shared
branching network with 80 percent of participating credit unions and 67 percent
of all shared-branching locations.
the World Council of Credit Unions for many years. In fact, we recently worked together to complete
the first true international shared branch transaction in Ecuador using our Next Generation
Network,” said Stan Hollen,
president and CEO of CO-OP Financial Services. “Becoming an associate member
not only expands our relationship with WOCCU, but it furthers the credit union
movement on a more global scale.”
Financial Service Centers Cooperative, an 18-year-old CUSO, provides
shared branching services at more than 5,000 locations in the U.S.
and five countries. According to Sarah Canepa Bang, FSCC’s president and CEO,
FSCC’s technology has enabled the CUSO to offer 24/7 shared branch access at
more than 2,000 7-Eleven® stores. FSCC has been turning to WOCCU for a number
of years for services and information.
has maintained international branches for more than six years,” said Bang.
“We’ve long used WOCCU resources and thought it was time to pay the
organization back and support its good work by becoming more involved.”
two new associate memberships signal a growing support for WOCCU’s mission, as
well as indicate the increasing importance technology plays in serving emerging
credit union movements, according to Pete Crear, WOCCU’s president and chief
very pleased by the support both CO-OP Financial Services and Financial Service
Centers Cooperative have shown by joining us,” said Crear. “Both organizations
credit unions with electronic transaction services vital to their members’ success
and we’ll look for synergies that will enable them to help more credit unions
WOCCU associate members include the National Federation of Urban Cooperative
Banks and Credit Societies Ltd. (India); Cooperative Savings and Credit Union
Mutual Insurance Society (Poland); CUNA Mutual Group (U.S.); and the
International Cooperative Banking Association, the International Cooperative
& Mutual Insurance Federation and the International Raiffeisen Union.
World Council of Credit Unions is the global trade association and development agency for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented more than 290 technical assistance programs in 71 countries. Worldwide, 56,000 credit unions in 101 countries serve 200 million people. Learn more about World Council's impact around the world at www.woccu.org.