RANCHO CUCAMONGA, Calif. (1/9/14)--CO-OP Financial Services processed a record 2.8 billion electronic funds transfer (EFT) and shared-branch transactions in 2013, an increase of 10% compared with 2012.
The figures were boosted by the last few days of the holiday buying season, with a single-day record of more than 9 million transactions recorded Saturday, Dec. 21. Also, records for transactions in a single hour, minute and second were set Dec. 24, highlighted by a peak of 223 transactions per second.
"The transaction processing records set by CO-OP in 2013 demonstrate that credit unions can compete with anyone in terms of terms of debit, credit, ATM and branch services," said Stan Hollen, CO-OP Financial Services president/CEO.
With transactions increasing at an annual rate of 10%, CO-OP Financial Services would surpass 3 billion transactions in 2014. In 2004, the company reached 1 billion in annual transactions, and in 2010 CO-OP Financial Services first topped 2 billion transactions.