RANCHO CUCAMONGA, Calif.–CO-OP Financial Services has announced the results of its recent board elections, including the naming of a new chair.
Benson Porter, president/CEO of BECU in Tukwila, Wash., was elected chairperson of CO-OP Financial Services following the CUSO’s recent 40th annual shareholders meeting.
“I congratulate Benson on his election as chairperson of CO-OP, in addition to the other elected directors…” said Chuck Purvis, who served as chairperson during the past two years. Purvis, president/CEO of Coastal FCU, Raleigh, N.C., remains on the board as a director.
‘Championing Growth’
During his chairperson’s report during the Shareholders meeting, Purvis said, “For 40 years, CO-OP has consistently been at the forefront of championing the growth of credit unions and their members’ financial well-being. No other technology organization has made the same level of investments and choices in people, process and technology for the whole of the movement. With the support of our credit union partners, CO-OP has brought forth innovations and firsts that have served as major highlights and turning points in the movement. We are just getting started. Yes, we face a threat from the new fintechs, but CO-OP has been innovating as a change agent for the credit union movement for 40 years.”
Todd Clark, president/CEO of CO-OP, in his own report to shareholders, acknowledged Purvis’ service. “Chuck has led the board during a truly extraordinary time while also simultaneously leading his own prominent credit union,” said Clark. “We thank him for his service, insight and sound guidance.”
Deepening ‘Member Engagement’
Meanwhile, in his own report, Clark said, “In an unprecedented year, CO-OP continued our deliberate and fully-planned-for reinvestment in the company as we become the credit union movement’s ecosystem provider of payments technology and solutions. CO-OP solutions and insights developed in the past year concentrated on services designed to deepen member engagement and win the primary financial relationship. With the full support of our board directors, we are investing and building to meet the needs and expectations of today’s members, and provide maximum value to our credit union owners.”
Porter has served as a director of CO-OP since 2012, the same year he became BECU’s president/CEO. Other board officers elected include:
- Joan Opp, president/CEO of Stanford FCU, Palo Alto, Calif., is now vice chairperson.
- Jackie Buchanan, president/CEO of Genisys FCU, Auburn Hills, Mich., is now treasurer/secretary.
Other Members of Board
During the preceding annual shareholders meeting, Opp was also reelected to the board along with two other incumbents, including:
- Bob Falk, president/CEO of Purdue FCU, West Lafayette, Ind.
- Wayne Grosse, president/CEO of Bethpage FCU, Bethpage, N.Y.
Other members of the board include: Robert Chavez, president/CEO of Sandia Laboratory FCU, Albuquerque, N.M.; Theresa Mann, chief risk officer of NASA FCU, Upper Marlboro, Md.; Todd Marksberry, president/CEO of Canvas CU, Lone Tree, Colo.; Rudy Pereira, president/CEO of Premier America CU, Chatsworth, Calif.; and Greg Mitchell, president/CEO of First Tech FCU, Beaverton, Ore.