CO-OP Financial Services Comments On Sept. 24 NCUA Actions On Corproated Credit Unions
FOR IMMEDIATE RELEASE
Contact: Bill Prichard
Public Relations Manager
CO-OP Financial Services
800.782.9042, ext. 3450
RANCHO CUCAMONGA, Calif., September 28, 2010 – Last Friday, the National Credit Union Administration (NCUA) took a series of actions on corporate credit unions, including finalizing new rules governing the corporates.
Today, CO-OP Financial Services issued the following statement regarding these actions:
“After many years of partnering with the corporates, we reaffirm our confidence in the corporate system and believe it is still valid and valuable to the movement,” said Stan Hollen, President/CEO, CO-OP Financial Services. “CO-OP will continue to pursue an active role in the future of credit union payments, and we will seek partnerships to fulfill that goal with corporate credit unions and the natural-person credit unions that comprise their owner-members.
“As the leading credit union-owned CUSO, CO-OP Financial Services is keenly interested in playing a lead role in the transition of bridge corporate payments-related activities to other credit union industry providers,” said Hollen.
“We encourage our client credit unions and other industry colleagues to visit the Web site of the Credit Union National Association regularly at http://www.cuna.org to keep up to date on developments relating to corporate credit unions, and at http://www.co-opfs.org for CO-OP Financial Services’ own stand on this important issue,” said Hollen.
About CO-OP Financial Services
Based in Rancho Cucamonga, Calif., CO-OP Financial Services is the industry leader in access and convenience products for credit unions. Nearing 30 years of credit union service, CO-OP connects credit union members to their accounts through network services, payment processing, e-commerce, CO-OP Shared Branching and call center services. With a total of 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,000 shared branch locations and 160 million-plus monthly transactions, CO-OP Financial Services is the nation’s largest credit union service organization, offering the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org. Follow CO-OP on Twitter at: http://twitter.com/COOPFS and keep up with industry issues via the CO-OP Insight Vault blog at: http://co-opinsightvault.com.