RANCHO CUCAMONGA, Calif. (1/20/16)--CO-OP Financial Services set a record last year for the most electronic funds transfer (EFT) and shared branch transactions by credit union members that it has ever processed.
In 2015, the credit union service organization (CUSO) processed more than 3.2 billion transactions and transfers, a 6.6% increase over levels seen in 2014.
“CO-OP is dedicated to helping credit unions become the primary financial institution of its members by maximizing secure and convenient access to accounts,” said Stan Hollen, CO-OP president/CEO. “The new transaction processing record demonstrates again that credit unions can compete with anyone in terms of debit, credit, ATM and branch services.”
CO-OP has recorded steady growth in transaction volume in recent years. The CUSO topped 1 billion transactions in a calendar year for the first time in 2004, 2 billion in 2010 and 3 billion in 2014.
The organization also set records in 2015 for transactions processed in shorter periods of time, including per second, per minute, per hour and per day. The records included:
CO-OP specifically noted the accomplishment of processing 1 million transactions in one hour, as the CUSO processed 1 million transactions in an entire month for the first time in 1988.