RANCHO CUCAMONGA, Calif. (April 14, 2013) - CO-OP Financial Services is announcing a patronage (shareholder dividend) pool of $30.5 million for fiscal year 2013, a 17 percent increase in patronage compared to the 2012 figure of $26.1 million. This brings the total shareholder patronage amount for CO-OP to $284.8 million since becoming a credit union-owned cooperative in 1996.
"The year 2013 was a good one for the credit union system, with membership, loans and earnings up in aggregate for the industry," said Stan Hollen, President/CEO, CO-OP Financial Services. "At CO-OP, we had record sales and earnings, enabling us to provide our nearly 1,200 member-shareholder institutions with a healthy increase in patronage for the year."
Highlights for CO-OP during the past year include:
CO-OP Financial Services is the nation's largest credit union service organization, specializing in products that help credit unions compete successfully by maximizing their operational efficiency and making it easier and more convenient for members to do business with them. The company services more than 3,500 participating credit unions.
CO-OP Financial Services will be holding its Annual Meeting of Shareholders during the THINK 14 Conference in New Orleans, La. The meeting will take place at 11:30 a.m. central time on Wed., May 21. To register immediately for the THINK 14 Conference, visit www.co-opthink.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 helps 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, online, check imaging, bill pay services). To learn more visit www.co-opfs.org.