CO-OP Financial Services Adds to Front-Line Member Service
With Completion of CO-OP LoanLink Center Acquisition

Nearly 350 Credit Unions Utilize Center to Provide Member and Loan Services

RANCHO CUCAMONGA, Calif. (November 2, 2009) – CO-OP Financial Services has completed the acquisition of CO-OP LoanLink Center, which provides member and loan services via telephone and Internet to members of nearly 350 credit unions.

The planned acquisition was originally announced jointly on Oct. 7 with its former owner, CUNA Mutual Group, Madison, Wis. The ownership transfer was completed on schedule, at the end of business on Oct. 31.

“With CO-OP LoanLink Center, CO-OP Financial Services is taking another step to ensure the 24x7 access and convenience credit union members expect from their financial institution,” said Stan Hollen, President/CEO, CO-OP Financial Services. “We can help credit unions meet the needs of their members without increasing staff overhead, as well as grow their lending operations.”

Since 2003, CO-OP LoanLink Center has had an exclusive agreement to use the Next Generation Network (NGN) platform, which is part of CO-OP Financial Services today. With the acquisition of CO-OP LoanLink Center, credit unions are better positioned to leverage their existing connectivity to NGN for member service and lending activities, in addition to other CO-OP Financial Services NGN products, including CO-OP Mobile and CO-OP My Deposit.

CO-OP LoanLink Center will continue to operate at its location in Fort Worth, Texas, and no immediate changes are planned for the business, though it will be rebranded so that it will be recognizable as a CO-OP Financial Services offering. Under the acquisition agreement, CUNA Mutual Group and CO-OP Financial Services will partner in CO-OP LoanLink Center sales.

With a staff of more than 300 employees, CO-OP LoanLink Center services many of the largest credit unions in the country. More than 40 of its clients have assets totaling more than $1 billion. Its service record is also exemplary, with the center answering 93 percent of calls in 30 seconds or less. “With its highly trained employees, modern technology and a state-of-the art facility, The LoanLink Center will allow us to extend front-line member service and continue to add great value to the member experience,” said Hollen.

For more information about CO-OP LoanLink Center, send an e-mail to marketing@co-opfs.org or call 1-800-782-9042, ext. 7001, for marketing.

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. Nearing 30 years of credit union service, CO-OP Financial Services connects credit union members to offerings like their nationwide ATM network, debit processing services, ATM processing and other account-driven access channels such as shared branching, check imaging services and mobile payments. A total of 3,000 credit union members, 26 million cardholders, 28,000 surcharge-free ATMs, 3,700 shared branch locations, plus 160 million-plus monthly transactions, make CO-OP Financial Services the nation’s largest credit union service organization, offering the tools, knowledge and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org.

<< back home