RANCHO CUCAMONGA, Calif.—While reports of Black Friday-Cyber Monday 2015 shopping ranged from “bleak” to “record breaking,” CO-OP Financial Services’ own transaction processing data show the 2015 holiday season opened on a par with 2014.
“Our EFT and shared branch transactions by the members of our client credit unions showed a slightly higher volume on Cyber Monday compared to last year,” said Stan Hollen, president/CEO CO-OP. “This bodes well for December retail buying, since we had a record breaking year in 2014 with more than three billion transactions, a figure we expect to surpass in 2015.”
Transactions processed by CO-OP include debit, credit, ATM and branch services. Sample volumes on Cyber Monday include:
- Total volume for the day: 9,421,258 transactions.
- Peak volume per hour: 775,455 transactions during 8 a.m. E.T..
- Peak volume per minute: 14,918 transactions at 10:27 a.m. E.T.
- Peak volume per second: 258 transactions at 10:24:45 a.m. E.T..
Higher numbers during the holiday season may still be yet to come. CO-OP typically experiences the highest volumes of the year on December 24. On Christmas Eve 2014, for instance, transactions for that day reached a single-day record of 10,327,641.
CO-OP is the credit union industry’s largest processor of electronic payments. The company operates CO-OP Shared Branch, a network of 5,300 branches (and 1,800 standalone locations), and CO-OP ATM, a network of 30,000 ATMs, including 9,000 deposit-taking. CO-OP has 3,500 credit union clients, which includes 30 million credit union debit and credit cardholders.