Advised by the World Credit and Savings Council and based on the experience in other countries, Fenocoac is interested in establishing alliances with banks.
The alliances would be in the sense that the members of the cooperatives can make deposits or withdrawals from bank branches countrywide.
Elio Armando Estrada, president of the of Administrative Council of the National Federation of Credit Unions (Fenocoac), added that even though they have their own ATM's they are also looking to join the national network, using debit cards and issuing a local and international credit card.
Credit Unions iin Guatemala are looking for new members, after being in the non-traditional financial market with 800 thousand members for 45 years.
Oswaldo Oliva, national manager of the Credit and Savings Cooperatives of Guatemala (Fenacoac) commented that the cooperatives are hoping to add 1.5 million new members in the next four years.
Oliva said yesterday during the presentation of the advertising campaign to attract members that the cooperatives have been the vehicle of development for thousand of people for years.