CO-OPFinancial Services will return millions of dollars toparticipating credit unions from its 2013 operations, announcing a patronage pool of $30.5 million on Monday.
|That figure is 17% higher than the $26.1 million in patronagefrom 2012's operations, and brings the total of monies returned tothe CUSO's members to $284.1 million since it began in 1996.
|“The year 2013 was a good one for the credit union system, withmembership, loans and earnings up in aggregate for the industry,”said StanHollen, CEO of CO-OP Financial Services. “At CO-OP, we hadrecord sales and earnings, enabling us to provide our nearly 1,200member-shareholder institutions with a healthy increase inpatronage for the year.
|CO-OP heralded increased operational efficiencies, which it saidhelped make the increase possible, including zero downtimeson the EFT switches the CUSO uses for its ATM, POS and sharedbranch transactions for the past two years, along with a record 2.8billion transactions processed and an overall. customersatisfaction rating of 8.7 out of 10.
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