The Rancho Cucamonga, Calif.-based payments CUSO CO-OP Financial Services announced a new annual record – in 2015, it processed more than 3.2 billion electronic funds transfer and shared branch transactions for its credit union members.

This reflected an increase in annual transactions of 6.6% from 2014, CO-OP said. In 2004, the company reached one billion; in 2010, it topped two billion; and in 2014, the CUSO reached the three billion mark.

"CO-OP is dedicated to helping credit unions become the primary financial institution of its members by maximizing secure and convenient access to accounts," Stan Hollen, the soon-to-retire president/CEO of CO-OP (pictured), said. "The new transaction processing record demonstrates again that credit unions can compete with anyone in terms of debit, credit, ATM and branch services."

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).