CO-OP Also Reinvesting Heavily in Technology Infrastructure, Product Innovation
RANCHO CUCAMONGA, California, April 20, 2017 – CO-OP Financial Services is announcing a patronage (shareholder dividend) pool of $26.1 million for fiscal year 2016, raising to $393.7 million the total patronage amount 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.”
Recent highlights among CO-OP’s activities include:
CO-OP is the nation’s largest credit union service organization in terms of number of credit unions (3,500 institutions) and members (60 million account holders) served. In addition to CO-OP ATM, CO-OP manages the industry’s shared branching network, now approaching 5,500 offices nationwide.
The Annual Meeting of CO-OP Shareholders will be held during the THINK 17 Conference in New York City. The meeting will take place at 8 a.m. Eastern time on Thursday, May 11. To register immediately for the THINK 17 Conference, visit www.co-opthink.org.
For more information, visit www.co-opfs.org.