Co Op Financial Services Elects New Officers



RANCHO CUCAMONGA, Calif. (May 25, 2012) – Terry Laudick, President/CEO of New Mexico Educators FCU, Albuquerque, N.M., has been elected to a one-year term as Chairman of the Board of CO-OP Financial Services, the leader in access and convenience products for credit unions.

Laudick’s elevation to Chairman by vote of the Board follows his reelection to the Board itself on April 29 by shareholders for a third and final three-year term. He has served as a CO-OP Board member since 2006, and as President/CEO of New Mexico Educators FCU since 2000.

“I want to thank the members of the Board for their support, their commitment of time and their vision for the future,” said Laudick. “And, a special thank you to Doug Allman (of NASA FCU) for his leadership as Chairman these past two years. I would also like to recognize and express appreciation to the management and staff of this wonderful organization. Their ongoing commitment to creating the movement’s best cooperative is truly appreciated.”

The 11-member Board also elected three other members to Officer positions, including:

  • Doug Ferraro, President/CEO, Bellco CU, Greenwood, Colo., elected Vice Chairman/Chairman Elect.
  • Jeff Napper, President/CEO, LBS Financial CU, Westminster, Calif., elected Treasurer.
  • Allan McMorris, President/CEO, Oakland County CU, Waterford, Mich., elected Secretary.

In addition to Laudick, shareholders of CO-OP Financial Services also reelected two other Board members to third terms:

  • Rick Craig, President/CEO, America First CU, Riverdale, Utah.
  • Patsy Van Ouwerkerk, President/CEO, Travis CU, Vacaville, Calif.

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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 3,500 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,500 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