RANCHO CUCAMONGA, Calif. – CO-OP Financial Services reported it is paying 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, in a statement.
“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.”
CO-OP said highlights of its past year included:
- 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 a CUSO serving 3,500 institutions representing 50-million cardholders. The Annual Meeting of CO-OP Shareholders will be held during the THINK 15 Conference in Colorado Springs, Colo. on May 7. For info: www.co-opthink.org.