CO-OP Financial Services Introduces CO-OP Sprig Featuring P2P Payment and Account Aggregation Capabilities

CO-OP Sprig Represents Phase I in Multi-Phased Approach to “Virtual Credit Union Branch”

Rancho Cucamonga, CA (January 30, 2013) – CO-OP Financial Services is introducing CO-OP Sprig, a multi-institution “virtual credit union branch” giving members the ability to make person-to-person (P2P) payments and aggregate their accounts in a single portal.

“CO-OP Sprig has, in fact, already been implemented by many credit unions,” said Stan Hollen, President/CEO. “FSCC, LLC, a part of CO-OP Shared Branching, offered CO-OP Sprig to our clients in a soft launch. These credit unions are providing their members with a safe, secure and proven online and mobile payment service, under the movement’s most widely recognized consumer brand name.”

CO-OP Sprig is the first phase in CO-OP’s multi-phase plan to expand the product’s P2P features and network range into a true digital wallet – and beyond, to make it perform as a virtual credit union branch. In its initial phase, CO-OP Sprig is an in-network solution, allowing members to make transfers between, or payments to, any of their accounts. These transactions can include savings, checking or loan accounts residing at any credit union participating in CO-OP Shared Branching or connected to CO-OP Connect, the switch that enables CO-OP Sprig.

In-network me-to-me and me-to-you payments are supported in this release of CO-OP Sprig, as well as remote deposit capture via Apple iPhone. Future phases of the service will include out-of-network me-to-anyone payments, a point-of-sale option and RDC via Android-enabled smartphones.

Using CO-OP Sprig, credit union members transfer money from their deposit accounts based on the real-time good funds availability model, rather than the delayed automated clearing house (ACH) model. Members can make transfers between their accounts and immediately verify funds are available in the destination account.

There are no implementation or base monthly fees for this service.

Among the credit unions already using CO-OP Sprig are Northwest Resource FCU of Portland, Ore., and Cal Center Credit Union of Ontario, Calif.

“CO-OP Sprig was extremely easy to implement, for both the credit union and our members,” said Jim McCarthy, President/CEO, Northwest Resource FCU. “The clean and easy-to-use interface can be accessed from a mobile phone or tablet or PC, providing members with account access from virtually anywhere. It is a great tool for those members who may have accounts at multiple credit unions because it allows them to manage their accounts from different credit unions all in one centralized location.”

“We found CO-OP Sprig to be the perfect solution in providing mobile banking to our members,” said Linda Pettit, CEO, Cal Center Credit Union. “Our members, particularly those between the ages of 25 and 40, are finding our credit union the perfect financial solution to their lifestyle and needs. Without the mobile product, we would not have been able to capture this market as soon as we would have wanted to.”

CO-OP Sprig is available immediately. To contact CO-OP Financial Services about CO-OP Sprig, send an e-mail to

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, assets and members. The company specializes in helping 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, check imaging, bill pay services). To learn more visit

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