The Rancho Cucamonga, Calif.-based payments CUSO CO-OP Financial Services announced a new annual record – in 2015, it processed more than 3.2 billion electronic funds transfer and shared branch transactions for its credit union members.
This reflected an increase in annual transactions of 6.6% from 2014, CO-OP said. In 2004, the company reached one billion; in 2010, it topped two billion; and in 2014, the CUSO reached the three billion mark.
"CO-OP is dedicated to helping credit unions become the primary financial institution of its members by maximizing secure and convenient access to accounts," Stan Hollen, the soon-to-retire president/CEO of CO-OP (pictured), said. "The new transaction processing record demonstrates again that credit unions can compete with anyone in terms of debit, credit, ATM and branch services."
In addition to reaching a grand total record, CO-OP achieved transaction records during shorter intervals of time. Here are the records established in 2015 for the number of CO-OP transactions processed per second, per minute, per hour and per day:
- Peak volume per second: 6:43:06 a.m. Eastern Time on March 3, 665 transactions.
- Peak volume per minute: 6:32 a.m. Eastern Time on March 11, 22,354 transactions.
- Peak volume per hour: 1 p.m. Eastern Time on June 30, 1,022,497 transactions.
- Peak volume per day: Dec. 24, 11,166,663 transactions.
The figure of more than one million transactions in a single hour is worth noting: Back in March 1988, CO-OP surpassed the one million transaction mark in a single month for the first time.
CO-OP is the credit union industry's largest processor of electronic payments. The company operates CO-OP Shared Branch, a network of 5,400 branches; and CO-OP ATM, a network of 30,000 ATMs, including 9,000 deposit-taking units. CO-OP has 3,500 credit union clients, which includes 30 million credit union debit and credit cardholders.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
