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4/16/2014
CUNA Mutual Webinar – Lessons Learned for Being Prepared

4/16/2014
Webinar - Responding to Official Demands for Member Funds

CO-OP Financial Services

 

CO-OP Financial Services

CO-OP Financial Services, the nation’s largest credit union EFT network and processor, was named the number one CUSO by Callahan & Associates. Wholly-owned by its credit union shareholders, CO-OP provides volume discounts on products and services in five lines of business – CO-OP Network, CO-OP Check Imaging, CO-OP ATM Processing, CO-OP Card Services and CO-OP Shared Branching.

CO-OP Financial Services Headquarters
9692 Haven Avenue
Rancho Cucamonga, California 91730
(800) 782-9042

Contact: Christopher Kruger
Phone: (800) 782-9042, ext. 2644
Email: christopher.kruger@co-opfs.org


To learn more about CO-OP Financial Services and the product and services it has to offer your credit union and its members, contact MnCUN Director of Business Development Vickie Ganrude by email or at (651) 288-5515. Questions may also be directed to CO-OP's Christopher Kruger by email or at (800) 782-9042 ext. 2644.

CO-OP Marketing Resources

To assist credit unions in marketing CO-OP products and services to members, CO-OP Financial Services has developed CO-OP DNA. This program was built with one purpose in mind: to provide credit unions with the resources and information they need to support the products they sell. CO-OP offers the tools, knowledge and leadership to help credit unions prosper. Easily download materials to help in the sales of CO-OP's products and services, stay up to date on campaigns and other events, and utilize the latest research and trending information while selling to credit unions.

Download the white papers and resources below to access firsthand research and information on how CO-OP is successfully used at credit unions around the country. Examples of free marketing resources include:

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November 2013

CO-OP Financial Services to host session on lending trends

Dive deeper into trends leading the marketplace with CO-OP Financial Services roundtable webinar.


Demand for auto loans and home mortgages is on the upswing. Credit unions are ideally positioned to provide the personal contact and lending expertise required – as long as credit unions can be there for members whenever the time is right.


Join CO-OP Financial Services for its Lending Marketplace Roundtable Webinaron Thursday, Nov. 21 and learn more about your lending team can best serve members. Many of the experts featured in CO-OP’s recent white paper, "How to Grow Loans in a Competitive Marketplace,” will be participating as panelists during this session. 


Webinar participants will hear a dynamic discussion between:

Tony Boutelle, CEO, CU Direct Corporation

Rick Seehausen, CEO, LenderLive Corporation

Carol Cline Parton, Vice President, CO-OP Member Center

John Caddell, Lending Manager, CO-OP Member Center 


The white paper can be accessed in CO-OP’s Sales Tool Library and wiCOpedia. The document has also been saved on CO-OP DNA for our partners. To register for this exclusive roundtable and webinar, go to CO-OP’s registration page.

For more information about CO-OP Financial Services and its offerings, contact MnCUN Business Development Director Vickie Ganrude by email or call (651) 288-5515.

 

August 2013

 

CO-OP Financial Services expands products through partnership

In a move that reflects the growing CO-OP business line, CO-OP Financial Services and Credit Union Resources, Inc., are announcing an expansion of their partnership offering CO-OP access and convenience products to credit unions.

CU Resources provides business solutions for credit unions throughout the country. In addition to renewing their collaboration on CO-OP products they already offer, CU Resources will now also represent CO-OP Signature and PIN Debit transaction processing, and CO-OP Credit for in-house (pass-through) credit card transaction processing.

"CU Resources is a great partner in our mutual goal of helping credit unions be the most convenient institutions in financial services today," said Stan Hollen, President/CEO of CO-OP. "Their endorsement of CO-OP Debit, Credit and Sprig by CO-OP is a significant development in our ability to make these products available to the market."

"CO-OP has added a wide range of new products in recent years that are of value to our credit unions," said Bob Gallman, EVP/COO of CU Resources. "Whenever we endorse a product or service, we conduct a rigorous due diligence process to ensure it provides the best benefit and value for the price. CO-OP products definitely meet the standard of our tag line 'Your Business, Our Focus, Expert Solutions.' After many years of association, we know with CO-OP as a partner we are in the best position to do that."

CU Resources and CO-OP have partnered on CO-OP Shared Branching since 2004. The two companies also work together to offer CO-OP Network, a national network of surcharge-free ATMs for members of participating credit unions; CO-OP Member Center, for lending and member call center support; CO-OP Mobile for banking by mobile device; Sprig by CO-OP, a multi-institutional "virtual credit union branch" available with no implementation fee to CO-OP Shared Branching participants; and CO-OP My Deposit Mobile for remote check depositing.

For more information about CO-OP Financial Services and CO-OP Shared Branching contact MnCUN Vice President — Network Service Corporation John Ferstl by email or call (651) 288-5505.


 

July 2013

Convenience of Shared Branching helps Minnesota Valley earn "best bank" accolades

Minnesota Valley Federal Credit Union was awarded the 2013Mankato Free PressReaders’ Choice Award as the "best place to bank” in Mankato, thanks in part to the convenience it provides through CO-OP Shared Branching.The awards allow the community to vote on their top area businesses, restaurants, and recreational activities around the Mankato area.

MVFCU has been serving the greater Mankato area since 1934, and now providing banking services to more than 11,000 members.

"One of the things that made us extra popular is last year we introduced shared-service branching. In any of the 50 states, you can find a credit union and walk in to do business,” said MVFCU President/CEO Nick Meyer in the Free Press article.

Shared Branching offers credit unions nationwide a competitive advantage, as CUs join together to create shared service center locations. The shared branching network enablescredit unions to provide their members with more than 6,000 convenient locations to perform transactions, just as if they were at their home credit union. By sharing facilities, credit unions extend their reach to offer greater convenience to all members in Minnesota and across the nation. Take advantage of this opportunity to serve your members better, without the time and expense of building additional branches.

To use shared branches, members simply need to provide their name, account number and a valid government-issued photo ID. Service center tellers then access the member’s account and perform the requested transaction in real time. Credit unions receive daily transaction settlement reports and monthly transaction and billing reports. Members pay nothing for all the basic services offered through shared branching. To locate shared service centers around the country, visit www.cuservicecenter.com.

For additional information about shared branching and see how a service center strategy can help your credit union become the "best bank” in town, contact MnCUNVice President – Network Service Corporation John Ferstl by email or at (651) 288-5505.

 

June 2013

Shared Branching helps credit unions provide reliability in severe weather

With the recent tornadoes in Oklahoma and other severe weather cropping up around the country, credit unions nationwide understand the need to be prepared. In Minnesota, the National Weather Service begins gearing up for severe weather season in April. But floods, fires, power outages, tornadoes and blizzards can happen year round.

With more than 7,000 locations in all 50 states, CO-OP Shared Branching provides reliable access for your members when the unexpected occurs. Credit unions can harness the power of this robust infrastructure to ensure member service and business continuity.

The CO-OP Shared Branching network continues to grow in size and convenience. Consider these factors:

  • Nationwide, nearly 1,000 new Shared Branching outlets were added in the past two years.

  • There are 31 Shared Branching locations in Minnesota through the offerings of 20 credit unions.

  • CO-OP Shared Branching exists in all 50 states (plus four countries and two U.S. territories)

  • Bank of America is only in 40 states, and Wells Fargo is in 35

Credit unions can participate in Shared Branching in two ways:

  • by allowing your members to use other shared branches
  • by opening up your credit union to serve members from other shared branching credit unions

While disasters are unpredictable, advanced planning and participation in Shared Branching can provide the business continuity your credit union needs to best serve its members. Additional information on Shared Branching can be found on the MnCUN website or through CO-OP Shared Branching. With questions, please contact John Ferstl by email or at (651) 288-5505.


May 2013

Credit union Shared Branching gets rebranded

The most recognized credit union consumer brand name will now be applied to the industry's Shared Branching network. CU Service Centers and its swirl logo and signage will be replaced by a CO-OP Shared Branch logo in a two-year rebranding process. Migration to the new logo will be done in a phased approach for the benefit of shared branch users, as well as participating credit unions and state networks.

The decision on the consumer branding initiative was approved by the Boards of Directors of Service Centers Corporation (SCC), Credit Union Service Corp. (CUSC) and FSCC, LLC, the three entities that comprise CO-OP Shared Branching.

"The merger of CO-OP and FSCC last year has led to a rapid expansion of the industry's shared branching network – and the opportunity to unify the brand and make the unique credit union concept of shared branching much better known to consumers,” said Stan Hollen, President/CEO of CO-OP Financial Services. "We can do this by drawing on the CO-OP name, which is already well known to them through our ATM network.”

In March, CO-OP Financial Services announced that CO-OP Shared Branch had reached 5,000 live teller branches nationwide. CO-OP Shared Branch also offers members access to more than 2,000 self-service locations at credit union branches and in select 7-Eleven stores nationwide.

CO-OP Network, which incorporates 30,000 ATMs nationwide, 9,000 of which are deposit-taking, is the largest credit union ATM network, and larger than any network operated by a bank. CO-OP Financial Services is also making a slight revision to the ATM brand as well, to ensure that the ATM and shared branch networks present the same look and feel to consumers. CO-OP Network is being rebranded to CO-OP ATM.

"We are changing the consumer-facing signage of CO-OP Network to CO-OP ATM because we want to make it even easier for members and consumers to identify exactly what they need,” said Hollen. "So now, credit unions can present the two best known consumer services side-by-side in an industry brand that is consistent and communicates clearly what we offer.”

For more information on CO-OP Shared Branch and CO-OP ATM, visit www.co-opfs.org or contact MnCUN Vice President -- Network Service Corporation John Ferstl by email or call (651) 288-5505


April 2013

CO-OP Financial Services rolls out virtual branch app

CO-OP Financial Services, the parent CUSO of CO-OP Network and CO-OP Shared Branching, has released an app for Android and Apple smartphones that it says will make a "virtual branch” available wirelessly.

Called "CO-OP Sprig” the new service's first stage will allow members of credit unions participating in Shared Branching to move money between their accounts or other members' accounts via smartphone. Members with the iPhone will app also be able to make deposits.

Future versions of the app will allow for money movement to out-of-network accounts, as well as deposit-making capability on the Android platform and an option to use the app at participating retailers at point of sale. CO-OP emphasized that the money moved will occur in real time, eliminating that typical delay between when the money is sent and when it is received.

For more information about CO-OP Financial Services or the CO-OP Shared Branching network, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or at (651) 288-5505.

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March 2013

CO-OP Shared Branching hits milestone 5,000 branches

CO-OP Financial Services has launched an educational initiative for credit unions preparing for Europay, MasterCard, VISA (EMV). The initiative includes an "Ask the EMV Expert" webpage, white paper and webinar – all at no charge.

The number of credit union "live teller” branch locations available through the nationwide CO-OP Shared Branching network has reached 5,000, just over three years after reaching 4,000 in February 2010.

"Shared branching is one of the best examples we can show potential members that credit unions really are different from banks,” said Stan Hollen, President/CEO, CO-OP Financial Services. "Through the cooperative spirit of credit unions we have assembled a network leapfrogging all but the very largest banks in terms of convenient access to a branch almost anywhere in the country.”

The 5,000 branch locations gives the credit union industry the fourth largest branch network with teller service, trailing only three national banks – Wells Fargo, Bank of America and Chase. In fact, the CO-OP Shared Branching network is suddenly not so far behind, as CO-OP's records show Wells Fargo at 6,382 branches, Bank of America at 5,916 and Chase at 5,833.

Nearly 1,800 credit unions participate in CO-OP Shared Branching, which enables members to enter any branch and conduct their business as if they were at their own credit union. CO-OP estimates that if all 7,000-plus U.S.-based credit unions participated in shared branching, the industry's network of shared branching locations would total 20,519 branches.

The rapid growth of CO-OP Shared Branching during the past three years accelerated in 2012, following the merger of CO-OP Financial Services and Financial Service Centers Cooperative, Inc. (FSCC), which became effective at the first of last year. A total of 502 branches were added to CO-OP Shared Branching during 2012.

CO-OP Shared Branching is also the only financial services branch network with locations in all 50 states and the District of Columbia. In addition to 5,000 live teller branches, CO-OP Shared Branching includes more than 2,000 self-service locations at Vcom® kiosks and credit unions nationwide.

For more information, visit www.co-opfs.org. Find more CO-OP Shared Branching locations by visiting the Credit Union Service Centers website.

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October 2012

CO-OP Financial Services launches 'Ask EMV Expert'

CO-OP Financial Services has launched an educational initiative for credit unions preparing for Europay, MasterCard, VISA (EMV). The initiative includes an "Ask the EMV Expert" webpage, white paper and webinar – all at no charge.

EMV is a global standard for inter-operation of Integrated Circuit (also known as "chip”) cards and IC-card capable POS terminals and ATMs for authenticating credit and debit card transactions. France was reportedly the first country to launch EMV in 1986 and has since experienced an 80 percent decline in fraudulent activity. Today, 97 percent of European ATMS are EMV compliant, and now this technology has come to America.

CO-OP's "Ask the EMV Expert" webpage features a forum for credit unions to submit questions and receive replies from CO-OP's EMV experts. The page links to background resources and provides downloads to CO-OP-originated documents on this emerging trend. In addition, a CO-OP white paper focuses on issues that credit unions address as they consider how quickly they need to adopt EMV. The paper pays particular attention to the business case of issuing EMV chip cards, as it is considerably different than traditional magnetic stripe cards. The white paper can be downloaded for free from CO-OP's EMV Resource Center webpage.

CO-OP will be holding webinars every four months going forward to introduce EMV and provide more advanced update on the latest technical and industry announcements. The first webinar will follow the format of the white paper and will be held at noon on Oct. 25.

CO-OP's white paper, webinars and resources, can be found in the EMV Resource Center. With questions about CO-OP, contact MnCUN Director of Business Development Vickie Ganrudeby email or at (651) 288-5515. Credit unions can also contact CO-OP representativeChristopher Krugerby email or (909) 948-2644.

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September 2012

CO-OP shares secret ingredient to strengthening member relationships

The secret to having strong member relationships is convenience. The CO-OP Network, through a partnership with CO-OP Financial Services, gives credit union members convenient access to more ATM terminals than any bank in the nation. Through this service, credit union members can access more than 30,000 surcharge-free ATMs in all 50 states, 300 of which are in Minnesota.

With ATMs located in Costco, Walgreens, 7-Eleven and supermarkets, members can easily find a place to get money. Plus, members can use CO-OP'slocator toolsif they have trouble finding an ATM near them.

Getting started with the CO-OP Network requires no technological expertise on the part of participating credit unions. CO-OP provides turnkey implementation and minimizes operational concerns with total management support. CO-OP also offers professionally prepared and customizable promotional materials that are available throughCO-OP Ad Labto help credit unions market this unique opportunity.

Discover today all that CO-OP Financial Services has to offer your credit union. For more information about CO-OP Financial Services, contact MnCUN Director of Business DevelopmentVickie Ganrudeby email or at (651) 288-5515. Credit unions can also contact CO-OP representative Christopher Krugerby email or (909) 948-2644.

 

 

 

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July 2012

CO-OP Financial Services launches innovation contest

Entries are now being accepted for CO-OP THINK Prize 13, a competition to inspire solutions to issues confronting the credit union industry. Entrants have until Friday, Sept. 28 to complete their applications and become eligible for the Master Card-sponsored $10,000 grand prize.

The solutions put forward in the competition can take any form. Examples include an innovative application of technology, a new process for back-office efficiency or a fresh approach to industry advertising and marketing. Judging is based on four standards: impact, creativity, the application of the idea across the industry and ease of implementation.

To learn more about this contest, visit the CO-OP Think Prize 13 website. For more information about CO-OP Financial Services, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or at (651) 288-5505.

 

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April 2012

Android support added to CO-OP My Deposit Mobile

CO-OP Financial Services is adding Android support to its CO-OP My Deposit Mobile service. This change means that credit union members can deposit checks to their accounts from their phones.

Adding the service "helps credit unions gain a competitive advantage because many financial institutions that have mobile products have not yet deployed a remote deposit function," said Stan Hollen, President/CEO of CO-OP Financial Services. He went on to state that the new functionality "also adds to a credit union's ability to offer convenient access to accounts for members, which is what all CO-OP products are designed to do."

For credit unions, the new product means they can better appeal to younger, tech-savvy members. For members, CO-OP My Deposit Mobile eliminates geographic restrictions and allows them to access their accounts anytime, anywhere.

The service is an add-on to CO-OP Mobile, allowing credit unions to capture, proof and clear digital check images submitted by members using their smartphones. The product has been available to iPhone users for more than one year.

The Android deposit function, which requires deployment of a new Android application, is available to credit unions immediately. It works similar to the iPhone function. Members take pictures of the check front and back, enter the amount, select the deposit account and upload the images. The interface design and navigation is similar to the Android's browser mode for CO-OP Mobile.

Discover today all that CO-OP Financial Services has to offer your credit union. For more information about CO-OP Financial Services, contact MnCUN Director of Business Development Vickie Ganrude by email or at (651) 288-5515.

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March 2012

CO-OP introduces NextGen ATM

Constantly striving to make Shared Branchinga beneficial investment for credit unions, CO-OP has introduced its NextGen ATM solution. Credit unions can receive an overview of this new technology during a webinar on Wednesday, March 14, at 1 p.m.

Offered exclusively by CO-OP for Diebold ATMs, NextGen ATM provides members with self-service Shared Branching capabilities as well as expanded ATM functionality. During the webinar, credit unions will explore the following topics:

  • Leveraging existing hardware investment;
  • Maximizing ROI on ATMs;
  • Migrating teller transactions to a self-service channel; and
  • Offering members access to all their accounts at existing Diebold ATMs.

Register todayto participate in this webinar on the benefits of Shared Branching. For more information about how you can offer your members thousands of branches around the country, contact MnCUN Vice President – Network Service Corporation John Ferstlby email or at (651) 288-5505.

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February 2012

CO-OP, FSCC complete Shared Branching merger

CO-OP Financial Serviceshas completed its merger with Financial Service Centers Cooperative (FSCC) . The merged companies have created one nationwide Shared Branching operation for credit unions. The new network comprises more than 1,700 credit unions, 4,400 branch locations and 2,200 kiosks in 7-Eleven stores.

Sarah Canepa Bang, CEO of 21-year-old FSCC since 1999, will continue as President & Chief Operating Officer of FSCC and Chief Strategy Officer of CO-OP Shared Branching. The leadership team also includes Craig Beach, President/COO of CO-OP subsidiary Credit Union Service Corp. CUSC and FSCC will now be under the CO-OP Shared Branching business line.

CO-OP Financial Services now has more than 3,000 credit union members and also provides network, payment processing, e-commerce and call center services, with more than 30 million cardholders and 28,000 surcharge-free ATMs. For more information about CO-OP Financial Services, contact MnCUN Director of Business DevelopmenVickie Ganrudeby email or at (651) 288-5515.