CO-OP Financial Services said Monday it will pay $15.9 million in patronage distributions to shareholders for fiscal year 2011 and another $14.1 million to shareholders of FSCC Inc., the shared branching operation it recently acquired.
The CUSO, with about 1,200 member owners and more than 3,000 credit union clients, said the patronage payout brings to $229.2 million the total since it became a credit union cooperative in 1996.
"We achieved a number of key company milestones that benefit the credit union movement," Stan Hollen, president/CEO, said of the 2011 fiscal year. "At the same time, we maintained another outstanding patronage year, allowing us to provide a cash dividend to shareholders and continue to invest in products and services that will benefit all clients and their members."
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