Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CO-OP Financial Services reaches 25 billion transactions in 2012
RANCHO CUCAMONGA, Calif. (1/17/13)--CO-OP Financial Services set new records in annual, monthly and daily transaction volume during 2012--including 2.5 billion transactions for the year.

"It was another good year for CO-OP Card Payment services, reflecting the slowly improving economy," said Stan Hollen, president/CEO of the processor of electronic payments by credit union members. "With the resolution of fiscal issues and continued economic improvement, we hope to see an even stronger year in 2013."

The 2.5 billion transaction figure for 2012 is a 13.6% increase over the 2.2 billion processed in 2011. It includes cardholder debit, credit, ATM and shared-branch payments. The company exceeded the two billion transaction mark for the first time in 2010, and reached the one billion milestone originally in 2004.

In addition to the new annual mark, CO-OP reached a new single month transaction record in December with 230 million transactions. On Dec. 22, the company established a new single day transaction record with nine million payments processed.

CO-OP has 3,500 credit unions as clients, which includes 30 million credit union cardholders.


RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
8 hours ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
10 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
12 hours ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
12 hours ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
13 hours ago