news.cuna.org/articles/112174-co-op-returns-261m-for-2016-patronage-dividend

CO-OP returns $26.1M for 2016 patronage dividend

April 21, 2017

CO-OP Financial Services announced a shareholder dividend pool of $26.1 million for fiscal year 2016.

This raises the total patronage amount to $393.7 million made available by CO-OP since becoming a cooperative in 1996.

“This latest year’s healthy patronage to our 1,200 shareholding credit unions represents a balance with the more than $25 million we are investing in the company in 2017 on technology infrastructure and product innovation,” said Todd Clark, president/CEO.

“We are particularly pleased to return such a large patronage to shareholders on the heels of our acquisition earlier this month of TMG, making us a fully integrated, comprehensive payments services company to shareholders, clients and the entire credit union movement,” he said.

CO-OP reached an agreement to maintain ATM presence in 7-Eleven stores nationwide; formed a partnership with Early Warning that gives credit unions access to the Zelle Network for payments; and acquired TMG.