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Michigan Credit Union League

PSCU Announces the Acquisition of Seven Detroit Shared Branches from CO-OP Financial Services

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 northeast Detroit, northwest Detroit, Garden City, Redford, Southfield, Taylor and Ann Arbor.

“Each location will continue to operate without significant changes,” said Dean Trudeau, PSCU’s president/CEO. “PSCU will respect and maintain the integrity of the shared branching agreements as we have always done with our shared branching locations.”

PSCU 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,” said Rob Mercier, PSCU’s senior vice president. “PSCU prides itself in continuing this competitive advantage to the local membership of 600 plus credit unions from across the country. Human touch and convenience are 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, CO-OP Network for CO-OP Financial Services’ president. “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.”

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2018-05-18 00:00:00