CEO Robert Rose to Retire from CO-OP Network in June 2005

The hunt for his successor is under the direction of a search committee from the CO-OP Network board of directors and is being assisted by Muller and Associates, a New York-based executive search firm. When Rose, a 36-year credit union industry veteran, became CEO and President of Southern California-based CO-OP Network in October 1990, the organization was the 24th largest ATM/EFT network in the country. Today, CO-OP Network, which supplies financial products and services to its national roster of credit unions, is the largest credit union-owned ATM/EFT network in the country and is the No. 3 ATM network overall. Rose came to CO-OP Network in 1990 after serving as President and CEO of the LA Water & Power Credit Union and holding positions with the California Credit Union League and an Illinois credit union. He inherited an organization that consisted of less than 150 member credit unions, 300 ATMs, and 50 million annual transactions in California and Nevada. Fourteen years later, the CO-OP Network umbrella includes 1 billion annual transactions, nearly 20,000 ATMs, and 1,800 credit unions spread across 50 states and 11 countries. Additionally, the cooperative organization has returned a record amount of cash patronage to its member-shareholders in each of the past eight years totaling nearly $30 million.