Home » CO-OP announced $29.2M shareholder dividend
CO-OP announced $29.2M shareholder dividend
April 8, 2015
RANCHO CUCAMONGA, Calif. (4/9/15)--CO-OP Financial Services is announcing a shareholder dividend pool of $29.2 million for 2014, bringing its total shareholder patronage amount to $314.1 million since CO-OP became a credit union-owned cooperative in 1996.
"The year 2014 was a good one both for CO-OP and the industry," said Stan Hollen, CO-OP president/CEO. "CO-OP achieved record transaction volumes in 2014, and the credit union movement topped 100 million members in the U.S. This mutual success contributed to our ability to provide our nearly 1,200 member-shareholder institutions with a strong patronage for the year."
Highlights for CO-OP during the past year include:
Established a new record with more than 3 billion electronic funds transfer and shared branching transactions processed--the first time CO-OP has exceeded that milestone;
Introduced CardNav by CO-OP, a new mobile card controls and alerts application;
CO-OP and Alkami partnered to bundle CO-OP Bill Pay with the Alkami ORB Platform, offering CU members a fully integrated online and mobile banking bill payment solution;
Worked with Visa and MasterCard to make the EMV common debit solution available to clients, offering a streamlined and cost-effective approach to debit EMV adoption;
Unveiled "Empowering People. Amplifying Dreams," a multi-faceted marketing program to promote credit unions to prospective members, targeting "Millennial" consumers; and
The CO-OP Miracle Match program achieved a record $3.1 million in Credit Unions for Kids fundraisers. CO-OP contributed $1 million to that figure via matching funds.