CO-OP Financial Services established a new annual record in 2014, processing more than 3 billion electronic funds transfer and shared branch transactions by credit union members, an increase of 8% compared with 2013.
Akcelerant, a provider of software and services to the financial industry, and CU Revest, an asset management credit union service organization designed to manage and monetize pre-charge and charged-off debt, have partnered to offer a new collection outsourcing solution.
Wescom Resources Group, a provider of software and technology service solutions for credit unions, generated $11.1 million in annual revenue for 2014--the credit union service organization's 12th consecutive year of total income growth.
Human trafficking, money laundering, trade-based money laundering and terrorist financing all come with their own sets of red flags for financial institutions. In addition, entities such as money services businesses and cash-intensive businesses can be legitimate, but also have potential to be used for illicit activities.