CO-OP Financial Services: Of you for you

MADISON, Wis.—The Credit Union Executives Society is pleased to announce that Caroline Willard Lane, senior vice president of business development and marketing, CO-OP Financial Services, Rancho Cucamonga, Calif., has accepted an appointment to serve on its board of directors. 

“Caroline will be a real asset not only to the CUES board, but to its members, as well,” said Lary B. McCants, CCD, CCE, chairman, CUES’ board of directors, and president/CEO, IBM Southeast Employees’ Federal Credit Union, Boca Raton, Fla. “She is the first board member we’ve had from a credit union service organization (CUSO), and we’re very pleased she will provide insights from that perspective within the movement. Staff members at CUSOs are eligible for CUES membership, and in fact Caroline has been a member since 2001. The experience she has as a leader in the movement will serve us well. I’m very pleased she will be joining us.”

Lane joined CO-OP Financial Services in July of 2006 as vice president of corporate development.  In 2008, she was promoted to her current position, where she leads a relationship management team and oversees the Business Development Support and Marketing departments.  She also is responsible for CO-OP’s Client Services area, which fields all incoming client calls, and personally handles strategic planning and legislative affairs for CO-OP. Lane has two decades of marketing and strategic planning experience.  

Lane will fill the remainder of the term left vacant by Shelley B. Clarke, retired president/CEO, Goldenwest Federal Credit Union, Ogden, Utah, who resigned from the CUES board upon her retirement from Goldenwest on December 31, 2011. 

To learn more about CUES, visit cues.org.

The Credit Union Executives Society is a Madison, Wisconsin-based, independent, not-for-profit, international membership association for credit union executives. CUES’ mission is to educate and develop credit union CEOs, directors and future leaders.

Print

Share

ALOHA PACIFIC FCU CHOOSES CO-OP FINANCIAL SERVICES
FOR DEBIT PROCESSING AND ATM TERMINAL DRIVING

Aloha Pacific Cites CO-OP’s Dedication to Credit Union Movement in Decision

RANCHO CUCAMONGA, Calif. (February 16, 2012) – In a move to enhance operational efficiency and member convenience, Aloha Pacific FCU is expanding its relationship with CO-OP Financial Services to include debit processing and ATM terminal driving services.

Aloha Pacific FCU of Honolulu is the third largest credit union in Hawaii, with $714 million in total assets and 38,327 members. The credit union has been a participant in CO-OP Network since November 2004, and Aloha Pacific FCU is now calling on CO-OP Financial Services to handle all processing of signature and PIN debit transactions by member cardholders, and management of their fleet of 40 ATMs.

“We decided on CO-OP for debit processing and terminal driving because of their exclusive focus on serving credit unions, their strategic direction, and vast array of payment products and services,” said Rand Yamasaki, Vice President and Controller for Aloha Pacific FCU. “Our credit union wholeheartedly believes that the national movement needs to collectively stay together or we will be thrown into the wash with the banks and our unique philosophy will be history. We look forward to working with CO-OP to meet our ever-changing member expectations and needs.”

CO-OP Financial Services has 27 credit union clients in Hawaii. As a CO-OP Network participant, Aloha Pacific FCU members have access to more than 28,000 ATMs nationwide, 9,000 of which are deposit taking. With CO-OP Signature and PIN Debit Processing and ATM Terminal Driving, Aloha Pacific has a complete outsourcing solution for these functions, enabling the credit union to focus on its core financial services to members.

For more information on CO-OP Payment Processing services, go to www.co-opfs.org.

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif. and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP Financial Services connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union clients, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than 2.2 billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org.

Print

Share

On December 15, 2011, CO-OP Financial Services announced that it had received approval by the National Credit Union Administration to purchase the assets of eCom, a subsidiary of U.S. Central corporate credit union. At the time, the company expected the purchase to close within 90 days. CO-OP Financial Services was selected by NCUA in a compete bid, required as U.S. Central was placed into conservatorship in March 2009.

“The bill pay services of eCom are a perfect extension of the e-commerce business line of CO-OP Financial Services,” said Stan Hollen, President/CEO of CO-OP. “The transition of eCom services to CO-OP is so complementary that eCom clients will not need to change payment processing platforms. This acquisition will help our clients compete even more effectively in the future against banks in terms of access and convenience services they can offer their members.”

All eCom employees will become employees of CO-OP Financial Services and continue to service eCom online and mobile bill pay clients. The organization, located in Lenexa, Kansas, was founded in 1999 and today more than 750,000 credit union members use its electronic bill payment solutions.

The flagship MemberPay^Plus enables members to receive, view, manage and pay all of their bills when they log-on to their credit union’s online banking site. MemberPay^Plus is a premium, fully-hosted solution for credit unions looking for a comprehensive member bill pay service, but it is also highly price competitive, a characteristic of all eCom products.

For more information, visit www.co-opfs.org.

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. With 30 years of credit union service, CO-OP connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than two billion annual 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.

Print

Share

Print

Share

CO-OP FINANCIAL SERVICES PROCESSES 200 MILLION
ELECTRONIC PAYMENTS IN A SINGLE MONTH

 Busy December 2011 for CO-OP Caps Record Year Processing 2.2 Billion Transactions

RANCHO CUCAMONGA, Calif. (January 25, 2012) – CO-OP Financial Services processed more than 200 million electronic payment transactions by credit union members during December 2011, marking the first time the company exceeded the 200 million milestone in a single month. 

“Reaching 200 million transactions in just one month is a tribute to the growth of the movement, as more members continue to become debit and credit cardholders with their credit unions,” said Stan Hollen, President/CEO, CO-OP Financial Services. “CO-OP Payment Processing helps institutions keep up with this demand, ensuring continued convenience for their cardholders and ensuring cost-effective processing that maximizes profitability for the credit union.” 

CO-OP Financial Services is the credit union industry’s leading electronic payments processor, providing services on cardholder debit, credit, ATM and shared branch transactions. For the entire year of 2011, the company processed more than 2.2 billion transactions. CO-OP Financial Services first exceeded the 1 billion transaction mark in 2004.

The company processed more than 100 million shared branch transactions in 2011, reflecting the addition of Financial Service Centers Cooperative (FSCC) to CO-OP Shared Branching.

For more on CO-OP Payment Processing and CO-OP Shared Branching, visit www.co-opfs.org.

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif. and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP Financial Services connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union clients, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than 2.2 billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org. 

Print

Share

CO-OP FINANCIAL SERVICES AND FSCC
CLOSE AGREEMENT TO COMBINE

Credit Union Shared Branching Operations Now Unified

RANCHO CUCAMONGA, Calif. (January 24, 2012) – The agreement of CO-OP Financial Services and FSCC to combine operations, announced in September, is now complete and the two organizations are one company as of the New Year.

Signing the final paperwork to conclude the agreement are, Sarah Canepa Bang, now President and COO of FSCC, and Chief Strategy Officer of CO-OP Shared Branching; and Stan Hollen, President/CEO, CO-OP Financial Services. Bang joins the CO-OP Shared Branching leadership team, which also includes Craig Beach, President and COO of Credit Union Service Corporation, a subsidiary of CO-OP Financial Services.

“It is very gratifying to note that with the conclusion of our agreement, all the major pieces of the credit union movement’s decades-old shared branching initiative have been brought together,” said Hollen. “Now under the CO-OP Shared Branching business line are FSCC and the operations of Service Centers Corporation and Credit Union Service Corporation. 

More than 1,700 credit unions nationwide participate in shared branching, making more than 4,400 physical branch locations available to their members, plus 2,200 Vcom^® kiosk locations at 7-Eleven^® stores. For more information, visit www.co-opfs.org.   

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif. and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than two billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org. 

Print

Share

CREDIT UNION MEMBERS SPENT 15% MORE IN 2011 HOLIDAY SEASON

Year-End Purchase Activity Among CreditUnion Members Shows Robust Growth, According to Study by CO-OP Financial Services and Saylent Technologies

RANCHO CUCAMONGA, Calif., and FRANKLIN, Mass. (January 17, 2012) - Shoppers who belong to credit unions spent 15% more and made 15% more transactions during the peak holiday shopping season in 2011 than in 2010, according to an analysis by CO-OP Financial Services and Saylent Technologies, a provider of payment intelligence solutions.

"This month-long holiday spending surge among credit union members is even higher than Black Friday sales growth among the same group, which we found grew 8.1% year over year," said Stan Hollen, President/CEO, CO-OP Financial Services. "This robust sales activity mirrors the powerful momentum of the credit union movement overall."

The holiday sales analysis is based on more than 71.9 million transactions representing $2.8 billion in spending made between November 25 and December 25, 2011. Drawn from debit card transactions across 563 credit unions processed by CO-OP Financial Services, the year-over-year comparison was performed through an advanced analytics solution, CO-OP Total Revelation™, powered by Saylent Technologies, and was conducted by Saylent's Insight360™ consulting team.

"Our analysis revealed a remarkable 10% increase in the number of debit cards in use during the holiday season, the result of a burgeoning consumer interest in credit unions," said Tyson Nargassans, President and CEO of Saylent Technologies. "The CO-OP Total Revelation solution provides detailed payment intelligence that helps card issuers uncover hidden opportunities and insights to better serve their expanding roster of members."

The analysis spanned 30 days of spending activity among the credit union members both at brick-and-mortar establishments and on the Internet. Some of the key highlights:

• 'Tis the season for politics: The end of 2011 saw a spike in political contributions, up 513% over the same time last year, as the U.S. Presidential campaign season went into full swing.
• Holiday cheer: Tavern and alcoholic beverage purveyors toasted the end of the year with a 48% increase in sales.
• A season of giving: Contributions to charitable and social service organizations were up 38% year over year.
• Stocking up: Buying clubs and shopping services bulked up with a 125% sales increase.
• Popular gifts:  Among the merchandise categories showing strongest gains were leather goods (up 42%), records and CDs (up 42%), flowers and nursery stock (up 40%), bicycles (up 22%), computer software (up 21%), books (up 21%), candy and nuts (up 18%), and pets (up 17%).

For more information on CO-OP Total Revelation, visit www.co-opfs.org.

About Saylent Technologies, Inc.

Saylent Technologies, based in Franklin, Mass., develops payment intelligence solutions that help organizations understand and capitalize on payment behaviors. Employing innovative analytics and segmentation techniques, Saylent's Card360™ solution identifies card usage patterns by cardholder, targets underperforming or at-risk segments, and enables corresponding marketing programs and metrics. Saylent's Account360™ solution provides a holistic perspective on customers across all payment types, enabling financial institutions to understand and shift customer behaviors and increase share-of-wallet. Saylent's Insight360™ consulting services help clients speed time to value with expert analysis and customized marketing services. For more information, please visit www.saylent.com or call (508) 570-2161.

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif., and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP Financial Services connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than two billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org. 

Print

Share

TMG AND CO-OP FINANCIAL SERVICES
FORM STRATEGIC PARTNERSHIP

Agreement Enables Companies to Deliver Largest Array of Payment Solutions for Credit Unions

DES MOINES, Iowa, and RANCHO CUCAMONGA, Calif., (January 5, 2012) - The Members Group (TMG) and CO-OP Financial Services announced they have formed a strategic partnership to combine strengths and deliver the largest array of cutting-edge payment solutions for credit unions.

Under the agreement, CO-OP Financial Services has made a strategic investment in TMG. TMG and CO-OP Financial Services will continue to offer products under their own brands, operate independently and work within their existing management structures. At the same time, both companies will cross-sell all of their respective products and services.

"This is a pivotal time for credit unions as they look for trusted partners to capitalize on their opportunities," said Shazia Manus, CEO of TMG. "With the combined forces of TMG and CO-OP Financial Services, we are able to provide credit unions with a single point of entry to the most innovative, tailored, cost-effective products and services as they prepare for next-generation banking.

"The investment of CO-OP Financial Services in TMG allows both companies to offer the best processing platform for each client's unique needs," said Stan Hollen, President/CEO of CO-OP. "CO-OP gains a full service credit card system customizable to credit unions, and TMG gains additional products and delivery channels. Combined, the scale of processing is second to none."

The alliance of TMG and CO-OP Financial Services means the two companies serve more than 40 percent of all U.S. credit unions and provide payment services to nearly 33 million cardholders.

TMG and CO-OP Financial Services have more than 50 years of combined expertise in providing global solutions for core payment products, including full service credit, debit, ATM, prepaid products and P2P payment solutions. Both companies are credit union-owned.

TMG also brings to the alliance a suite of proprietary card data solutions, including Springboard and ClearTrend; Dwolla, a P2P payment solution; and other value-added services. Through collaborative relationships with its sister companies, TMG can also offer Hispanic market expertise and regulatory compliance products and solutions. CO-OP Financial Services brings additional services, such as CO-OP Network, CO-OP Shared Branching and CO-OP Member Center for lending and member service call center support.

"This partnership has a very strong foundation to provide even greater support to the industry as both companies are credit union-owned, conduct business in a manner philosophically consistent with the credit union movement and share similar perspectives on how they service and create long-term relationships with clients," said Patrick Jury, President/CEO of Affiliates Management Company (AMC), parent company to TMG, and of the Iowa Credit Union League.

For more information, visit www.themembersgroup.com and www.co-opfs.org.

About TMG

The Members Group (TMG) is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.themembersgroup.com.

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif. and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP Financial Services connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than two billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org.

About Affiliates Management Company

Affiliates Management Company (AMC) is a wholly-owned holding company of the Iowa Credit Union League (ICUL) that was formed to better integrate and align ICUL's operating companies, including TMG, TMG Financial Services, Community Business Lenders, PolicyWorks, Coopera and PayFusion. AMC aims to create efficiencies among the portfolio of companies to provide value-added products and quality services to their members and clients. For more, visit www.affiliatesmgt.com.

Print

Share

W.C.U.L. SERVICES CORP. AND WISCONSIN CREDIT UNION SHARED SERVICE CENTERS, INC. JOINTLY PARTNER WITH CO-OP FINANCIAL SERVICES

CO-OP Network and Payment Processing to be Marketed to 210 Wisconsin-based Credit Unions 

RANCHO CUCAMONGA, Calif. (December 29, 2011) - CO-OP Financial Services, W.C.U.L. Services Corp. (WCUL) and Wisconsin Credit Union Shared Service Centers, Inc. (WCUSSC) are announcing a partnership to market CO-OP Network and Payment Processing services.

WCUL of Pewaukee, Wis., and WCUSSC of Greenfield, Wis., will market CO-OP products to more than 210 Wisconsin-based credit unions, with more than 2.2 million members. CO-OP offers services that maximize member convenience and operational efficiencies for credit unions.

WCUSSC already offers CO-OP Shared Branching, CO-OP Member Center and CO-OP E-Commerce Solutions. With the new agreement, WCUL and WCUSSC will also promote CO-OP Network and CO-OP Payment Processing services.

Member of participating credit unions can access 28,000 surcharge-free CO-OP Networks ATMs nationwide, 9,000 of which are deposit-taking.

 "This is a great example of credit union-owned entities collaborating to enhance opportunities for credit unions to strengthen relationships with their members," said Brett Thompson, President, Wisconsin Credit Union League.

"The surcharge-free ATM network and payment processing options are tremendous compliments to the growing shared branching network we already offer through CO-OP," said Rick Hagopian, President, WCUSSC. The partnership between WCUSSC, WCUL and CO-OP provides even more ways for Wisconsin credit unions to stay connected with their members."

For more information on CO-OP products and services, visit www.co-opfs.org. 

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif. and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than two billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org.

 

Print

Share

CO-OP FINANCIAL SERVICES PROMOTES
DENLEY, RUSNAK AND SCHEUERLEIN IN BUSINESS DEVELOPMENT 

 Moves Designed to Enhance Client Service and Product Awareness in Marketplace

RANCHO CUCAMONGA, Calif. (December 28, 2011) - Moving to enhance service to its clients and market awareness of its products, CO-OP Financial Services has promoted Jackie Scheuerlein, Andrea Rusnak and Donna Denley within its Business Development department.

"Jackie, Andrea and Donna all have a great deal of experience in managing client relationships and counseling clients on strategies and products that will help their credit unions grow," said Caroline Lane, Senior Vice President, Business Development and Marketing. "They are terrific assets to CO-OP and our clients."

Scheuerlein is promoted to Director, Relationship Management, reporting to Lane. Scheuerlein joined the company in 2001 (via CO-OP's acquisition of Service Centers Corp. - SCC - in 2003). She has previously held positions as Business Development Manager and National Relationship Manager (NRM) with CO-OP.  In her new capacity, she will be responsible for leading CO-OP's nationwide team of NRMs.

Rusnak is promoted to Business Development Manager, reporting to Scheuerlein, and will lead a regional team of NRMs and support personnel. She joined CO-OP in 2008 as an NRM. Prior to CO-OP, Rusnak held product management positions with NYCE Payments Network, LLC and Harland Financial Solutions; and management positions at Commercial Capital Bank and Wells Fargo Bank.

Denley is also promoted to Business Development Manager, reporting to Scheuerlein, and is now responsible for a regional team of NRMs. She joined CO-OP in 2008 as an NRM. Denley has 25 years of credit union industry experience, including seven years with Elan Financial Services, leading up to her tenure with CO-OP.

For more information, visit www.co-opfs.org.

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif. and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than two billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org. 

Print

Share