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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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 Ganrude by email or at (651) 288-5515. Credit unions can also contact CO-OP representative Christopher Kruger by 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's locator tools if 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 through CO-OP Ad Lab to 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 Development Vickie Ganrude by email or at (651) 288-5515. Credit unions can also contact CO-OP representative Christopher Kruger by 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 Services has 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 Ganrude by email or at (651) 288-5515.
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