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From the Editors of CU Weekly
CO-OP ANNOUNCES SHAREHOLDER DIVIDEND
04/14/14 01:37 PM
Patronage Pool of $30.5 Million
CO-OP Financial Services has announced a shareholder dividend pool of $30.5 million for 2013—a 17 percent increase from 2012. Since becoming a credit union-owned cooperative in 1996, CO-OP’s total shareholder patronage has been $284.8 million.
“The year 2013 was a good one for the credit union system, with membership, loans and earnings up in aggregate for the industry,” said Stan Hollen, President/CEO, CO-OP. “At CO-OP, we had record sales and earnings, enabling us to provide our nearly 1,200 member-shareholder institutions with a healthy increase in patronage for the year.”
Other 2013 CO-OP highlights:
- Zero unscheduled or scheduled downtimes on Electronic Funds Transfer (EFT) switches
- A record 2.8 billion transactions processed
- A 8.7+ customer satisfaction rating in all of its businesses