Twelve Ecuadoran credit unions have launched a real-time, web-based network of shared branches in this country. Members of participating credit unions now have access to any one of the 77 shared branches. The service, called Redcoop, means cooperative network in Spanish.
The network is part of a project that the World Council of Credit Unions (WOCCU) has been working on since 2002 with the support of the United States Agency of International Development (USAID). "Redcoop provides participating credit unions with a national presence and more points of service than any bank in Ecuador," noted WOCCU. "Although the service will begin by offering only domestic transfers, it will eventually allow connections to United States shared branching systems and receive remittances from other countries."
CUSC, Atlanta, is providing the technology.
