Co Op Financial Services Reaches 25 Billion Annually For Processing Credit Union Member Payments
CO-OP FINANCIAL SERVICES REACHES 2.5 BILLION ANNUALLY FOR PROCESSING CREDIT UNION MEMBER PAYMENTS
RANCHO CUCAMONGA, Calif. (January 16, 2013) - CO-OP Financial Services, the leading processor of electronic payments by credit union members, established new annual, monthly and daily transaction volume records for itself in 2012, including 2.5 billion transactions for the year.
"It was another good year for CO-OP Card Payment services, reflecting the slowly improving economy," said Stan Hollen, President/CEO. "With the resolution of fiscal issues and continued economic improvement, we hope to see an even stronger year in 2013."
The 2.5 billion transaction figure for 2012 represents a 13.6 percent increase compared to the 2.2 billion processed in 2011, including cardholder debit, credit, ATM and shared branch payments. CO-OP has 3,500 credit unions as clients, which includes 30 million credit union cardholders. The company exceeded the two billion transaction mark for the first time in 2010, and reached the one billion figure originally in 2004.
In addition to the new annual mark, CO-OP reached a new single month transaction record in December 2012 with 230 million. On Dec. 22, the company established a new single day transaction record with nine million payments processed.
For more information on CO-OP Card Payments 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 nation's largest credit union service
organization in terms of number of credit unions, assets and
members. The company specializes in helping credit unions thrive by
providing products and services that make it more convenient for
members to do business with them. With a motto of "Be There. Be
More," CO-OP's products fall into three business lines, including
"Locations," (ATM, shared branching and call center services);
"Card Payments" (debit and credit processing) and "Mobile/Virtual"
(mobile, check imaging, bill pay services). To learn more
visit www.co-opfs.org.
