ONTARIO, Calif. – The CO-OP Network, the largest creditunion-owned surcharge-free ATM and shared branching network, hasannounced an over $10 million patronage for 2005.
|This is the largest cash disbursement by a credit union serviceorganization in history, the CO-OP said
|“An assortment of factors has contributed to the record $26million patronage pool and another monumental shareholder payout,”says CO-OP Network CEO Stan Hollen. “Last year transaction volumestopped 1.1 billion, our surcharge-free network surpassed 25,000ATMs across 10 countries, we now have 24 million cardholders andwe're close to 2,000 member credit unions.
|“We deliver premium service and products at an excellent value.Outside of patronage, our members have enjoyed nine pricereductions during the past nine years-and we anticipate anotherreduction in 2006.”
|All CO-OP Network member-shareholders receive a portion of thepatronage distribution. The payout represents nearly one-cent perATM and point-of-sale transaction, the CO-OP said.
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