CO-OP Network Disburses Record Patronage

ONTARIO, Calif. – CO-OP Network, the nation’s largest credit union owned surcharge free ATM Network, has announced a patronage distribution of $7.5 million for 2003′s transactions. This represents an increase of 7% over last year’s patronage, the CO-OP said. “Despite an unsettled marketplace, CO-OP Network was able to return a record amount to its shareholders for the eighth consecutive year,” said CO-OP Network CEO Robert Rose. “What’s most impressive is that we were also able to reduce pricing to save our overall membership an additional $5.9 million in 2003. We feel confident CO-OP Network will continue this success in 2004 and member credit unions should expect another price reduction later in the year.” CO-OP Network member-shareholders, which perform more than 90% of the transaction volume among the organization’s 1,577 member credit unions, will each receive a portion of the patronage distribution.