Fed Approves Honduran Credit Union's Miami Office

Cooperativa de Ahorro y Credito Elga gets green light to open representative office in Florida.

Published on Feb. 13, 2026

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The Federal Reserve Board has approved an application by Cooperativa de Ahorro y Credito Elga, a credit union based in Tegucigalpa, Honduras, to establish a representative office in Miami, Florida.

Why it matters

The approval allows the Honduran credit union to expand its operations and services to customers in the United States, particularly the growing Hispanic and Latin American population in the Miami area.

The details

Cooperativa de Ahorro y Credito Elga is a financial cooperative that provides banking and lending services to its members in Honduras. The new representative office in Miami will allow the credit union to better serve its existing customers who have relocated to Florida, as well as potentially attract new members from the local Hispanic community.

  • The Federal Reserve Board announced its approval on February 13, 2026.

The players

Cooperativa de Ahorro y Credito Elga, Ltda.

A credit union based in Tegucigalpa, Honduras that provides banking and lending services to its members.

Federal Reserve Board

The central banking system of the United States that approved the application for Cooperativa de Ahorro y Credito Elga to establish a representative office in Miami, Florida.

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What’s next

The credit union will now proceed with opening the representative office in Miami to serve its existing customers and potentially attract new members from the local Hispanic community.

The takeaway

This approval highlights the growing economic ties between the United States and Latin America, as well as the increasing demand for financial services catered to the Hispanic population in the Miami metropolitan area.