The Puerto Rico Teachers Federation Credit Union (FedeCoop, for its initials in Spanish) recently inaugurated its new headquarters in Río Piedras, for which it invested $3.7 million.
During the past 10 years, the institution has had growth that has led it to hire more staff and expand its facilities. The new facilities have a drive-thru window, ATM and customer parking.
“At a time when international banks are leaving Puerto Rico, after a 10-year economic recession, we, the credit unions are expanding our services to support our people. We’re occupying those spaces left by international banks,” said Pedro García, executive president of FedeCoop.
The opening goes hand-in-hand with an increase in the availability of loan services available for its members. Initially, FedeCoop served only teachers who belonged to the Teachers Federation Union. However, at present the financial institution has reinvented itself to offer services to all local public employees.
The renovation of its headquarters is part of the institution’s growth plans and coincides with its upcoming 50th anniversary celebration in March 2020.
“Our commitment today is stronger than ever. We will focus on bringing new members and strengthening ties with the communities,” García said.