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Puerto Rico Bankers Association adds 3 new financial institutions

Banco Cooperativo de Puerto Rico, Banesco and the Federal Home Loan Bank of New York have joined the Puerto Rico Bankers Association, joining commercial banks Banco Popular de Puerto Rico, Citi and Firstbank, which are already part of the trade group.

“For the Puerto Rico Bankers Association, it’s a great to be able to count on new institutions that support the mission and management that we carry out on behalf of the banking industry,” said Zoimé Álvarez-Rubio, executive vice president of the Bankers Association.

“Commercial banking is the sector that contributes the most to Puerto Rico’s economy among all the sectors that make up the local financial industry, and it’s crucial to have members committed to the goal of continuing to serve the island effectively and efficiently,” she added.

She emphasized on the importance of working together to safeguard areas of impact such as the mortgage market, investor relations and the investment interest, among others.

Another area in which the new members will support the Bankers Association is in educating in issues that impact the personal finances of the population such as fraud prevention, budget management, savings strategies, proper use of credit and the importance of the relationship and communication with their bank.

In related news, on Oct. 1, the trade group elected Popular Inc. CEO Ignacio Álvarez as its new president. The appointment will extend through 2023.

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This story was written by our staff based on a press release.

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