Public Service Credit Union announces the acquisition of seven Metro-Detroit standalone shared branches from CO-OP Financial Services
RANCHO CUCAMONGA, CA (May 10, 2018) — Public Service Credit Union (PSCU) has reached an agreement with CO-OP Financial Services to purchase seven standalone branches in Metro-Detroit and continue to operate each location as part of the CO-OP Shared Branch network under the Credit Union Family Service Center name.
The newly acquired Credit Union Family Service Centers (CUFSC) branches are in NE Detroit, NW Detroit, Garden City, Redford, Southfield, Taylor and Ann Arbor. “Each location will continue to operate without significant changes. PSCU will respect and maintain the integrity of the shared branching agreements as we have always done with our shared branching locations,” said Dean Trudeau, President/CEO of PSCU.
Public Service Credit Union has been a long-time supporter of shared branching and their members are the second highest volume users of the Michigan standalone branches. “For credit unions of all sizes this network is vital to maintaining our ability as an industry to compete with Big-bank branch networks. PSCU prides itself in continuing this competitive advantage to the local membership of 600 plus credit unions from across the country,” said Rob Mercier, SVP of PSCU. “Human touch and convenience is still king.”
CO-OP Shared Branch comprises 5,700 branches throughout the United States with 1,800 credit unions participating.
“After much careful strategic study and consideration, CO-OP is divesting of these standalone branches,” said Jim Hanisch, President, CO-OP Network, for CO-OP Financial Services. “We are very happy to be working with PSCU to transition the branches and the staff. PSCU will be a great employer for our transitioning staff and continue to provide great service to shared branch members. Finding the most efficient way to operate shared branching is part of our commitment to growing the CO-OP Shared Branch network.”
About CO-OP Financial Services
CO-OP Financial Services is a payments and financial technology company whose mission is ensuring the success of the credit union movement. CO-OP payments solutions, engagement services and strategic counsel help credit unions optimize member experiences to consistently provide seamless, personalized multi-channel offerings, while delivering secure, sophisticated fraud mitigation service. For more information, visit www.co-opfs.org.
About Public Service Credit Union
Public Service Credit Union has been helping people achieve financial success for more than 60 years. Founded in 1951 by Wayne County Employees, Public Service has now grown to over 32,000 members and $275 million in assets. For when life happens… There’s PSCU. For more information, visit https://www.pscunow.com or call (734) 641-8400.