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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