2017-04-20T00:00:00 | CO-OP FINANCIAL SERVICES ANNOUNCES $26.1 MILLION SHAREHOLDER PATRONAGE FOR FY 2016
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.
About CO-OP Financial Services
CO-OP Financial Services is a payments and financial technology company that supports 3,500 credit unions and 60 million members by providing a cutting-edge suite of customizable tools and services. The company was the first in its industry to merge purpose, innovation and technology to help credit unions advance the industry mission of people helping people. Visit www.co-opfs.org.