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.