FSCC Reports Overseas Shared Branching Growth

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Financial Service Centers Cooperative, Inc., reported that overseas credit union shared branching transactions grew by more than 220% over the past year.

In remarks before the European Credit Union Conference, FSCC CEO Sarah Canepa Bang said that during the past 12 months the number of defense credit unions participating in shared branching has grown by 12%. The number of defense credit union members grew by 16%, with more than 3.9 million now able to use shared branches. Bang also noted that the number of defense credit union branches involved in shared branching overseas and in the U.S. grew to 179-a more than 20% over the same time one year earlier.

During her presentation, entitled "Serving a Mobile Military," Bang pointed out that participating defense credit unions are helping not only members of military credit unions, but also civilian credit unions as their members are called up as part of the Reserves. "Defense credit unions are providing a meaningful and valuable service to all the troops," she added.

Currently all 22 overseas credit union shared branches are part of the FSCC network; all but one are Defense credit union branches.

For info: www.fscc.com or 888-372-2669, ext. 689.

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