news.cuna.org/articles/108643-holiday-spending-hints-at-3b-transactions-for-co-op-in-2015

Holiday spending hints at 3B transactions for CO-OP in 2015

December 3, 2015

RANCHO CUCAMONGA, Calif. (12/3/15)--CO-OP Financial Services reported this week that it expects to process more holiday shopping transactions in 2015 than it did last year.

“Our EFT and shared-branch transactions by the members of our client credit unions showed a slightly higher volume on Cyber Monday compared to last year,” said Stan Hollen, CO-OP president/CEO. “This bodes well for December retail buying, since we had a record-breaking year in 2014 with more than 3 billion transactions, a figure we expect to surpass in 2015.”

CO-OP cited sample volumes for this year’s Cyber Monday (Nov. 30) for debit, credit, ATM and branch service usage. The numbers included:

  • Nearly 9.5 million transactions;
  • A peak hour of 8 a.m. (ET) with roughly 775,000 transactions at that hour;
  • A peak minute of 10:27 a.m. (ET) with nearly 15,000 transactions at that minute; and
  • A peak second of 10:24:45 a.m. (ET) with 258 transactions at that second.

CO-OP also said that higher numbers for the holiday season may still be on the horizon, as the credit union service organization usually experiences peak traffic levels on Christmas Eve.

On Dec. 24 last year, CO-OP set a single-day record with more than 10.3 million transactions.