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CO-OP Financial Services announces shareholder patronage of $29.2 million for 2014

Industry’s Largest CUSO Has Nearly 1,200 Shareholding Credit Unions

RANCHO CUCAMONGA, CA (April 8, 2015) — CO-OP Financial Services is announcing a patronage (shareholder dividend) pool of $29.2 million for 2014, bringing its total shareholder patronage amount to $314.1 million since CO-OP became a credit union-owned cooperative in 1996.

“The year 2014 was a good one both for CO-OP and the industry,” said Stan Hollen, President/CEO of CO-OP. “CO-OP achieved record transaction volumes in 2014, and the credit union movement topped 100 million members in the U.S. This mutual success contributed to our ability to provide our nearly 1,200 member-shareholder institutions with a strong patronage for the year.”

Highlights for CO-OP during the past year include:

  • Established a new record with more than 3.0 billion EFT and shared branching transactions processed – the first time CO-OP has exceeded that milestone.
  • Introduced CardNav by CO-OP, a new mobile card controls and alerts application.
  • CO-OP and Alkami partnered to bundle CO-OP Bill Pay with the Alkami ORB Platform, offering CU members a fully-integrated online and mobile banking bill payment solution.
  • Worked with Visa and MasterCard to make the EMV common debit solution available to clients, offering a streamlined and cost-effective approach to debit EMV adoption.
  • Unveiled “Empowering People. Amplifying Dreams,” a multi-faceted marketing program to promote credit unions to prospective members, targeting “Millennial” consumers. The campaign’s Twitter account has more than 89,300 followers, the highest in the industry.
  • The CO-OP Miracle Match program achieved a record $3.1 million in Credit Unions for Kids fundraisers. CO-OP contributed $1 million to that figure via matching funds.

CO-OP is the nation’s largest credit union service organization in terms of number of credit unions (3,500 institutions) and members (50 million account holders) served. The company manages the industry’s leading consumer brand name via the nationwide, 30,000-strong CO-OP ATM and 5,000-strong CO-OP Shared Branch networks.

The Annual Meeting of CO-OP Shareholders will be held during the THINK 15 Conference in Colorado Springs, Colo. The meeting will take place at 11:30 a.m. mountain time on Thursday, May 7. To register immediately for the THINK 15 Conference, visit www.co-opthink.org.

For more information, visit www.co-opfs.org.

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif., and founded in 1981, CO-OP Financial Services is the nation’s largest credit union service organization in terms of number of credit unions and members served. The company helps credit unions thrive by providing products and services that make it more convenient for members to do business with them. With a motto of “Be There. Be More,” CO-OP’s products fall into three business lines, including “Locations,” (ATM, shared branching and call center services); “Card Payments” (debit and credit processing) and “Mobile/Virtual” (mobile, online, check imaging, bill pay services). To learn more visit www.co-opfs.org.

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