ONTARIO, Calif. – CO-OP Network, the largest credit union owned ATM and EFT network based here, will disburse $7 million to its shareholders in patronage payments from 2002, the firm reported. That figure is double the firm's previous record patronage of $3,022,773 from 2001. "This record patronage distribution is the seventh consecutive year we've been able to return a substantial amount of money to our shareholders," said CO-OP Network CEO Robert Rose. More than 50% of CO-OP's over 1,200 member credit unions are shareholders, CO-OP reported. The network also reported that its shared branching subsidiary, the Michigan based Service Centers Corporation, had also approved a patronage payment of more than $500,000.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.