The Rancho Cucamonga, Calif.-based CO-OP Financial Services announced a patronage, or shareholder dividend, pool of $53.3 million for 2015, which equals the highest annual dividend ever distributed by a CUSO for its owner credit unions.
The shareholder patronage for 2015 raised the total patronage amount made available by CO-OP since the CUSO became a cooperative in 1996 to $367.9 million.
The $53.3 million patronage, according to the announcement, is partially the result of the CUSO's sale during 2015 of most of its investment in Ensenta Corp. of Redwood Shores, Calif. CO-OP first invested in the provider of self-service and image solutions in 2006, and the tech firm now holds four patents for its image capture capabilities.
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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.).
