Rose Departs, Hollen Arrives, Continuity Maintained

ONTARIO, Calif. – As he promised in 2004, Bob Rose, 15-year president of CO-OP Network, stepped down in 2005 as the network board chose Stan Hollen, the former CEO of The Golden 1 Credit Union and Liberty Enterprises, to take his place. Because of the careful work Rose and the board did in preparing for the transition, the change in leadership appears to have been as smooth as glass and allowed the CO-OP to maintain a high-degree of continuity moving forward. This has proven significantly useful as the CO-OP Network announced in December that it has returned to an old partner, 7-Eleven stores, allowing CO-OP Network cardholders to obtain fee-free access to their cash from any one of more than 5,300 widely known and recognized convenience stores around the country. When questioned about his experience in working with ATMs, Hollen recalled that he has had previous experience in the ATM world. From 1973 to 1984, Hollen was vice president at Construction Equipment Federal Credit Union in Peoria, Ill., where he created one of the early shared-ATM networks with local banks and thrifts.