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CO-OP Network Hits 1 Billion Transactions

Thursday 20 January 2005 22:31 CET | News

CO-OP Network posted a record 1,000,798,103 transactions in 2004, a 21 percent increase from 2003. This marks the 12th consecutive year CO-OP Network has achieved a new standard for transaction volume.

CO-OP Network, which currently has more than 1,770 member credit unions, was created in 1981 to establish a network of ATMs for its then 24 credit union members. The company has since evolved to accommodate all types of EFT services, including debit, point-of-sale and online activity, with more than 19,500 surcharge-free ATMs nationwide and 20 million credit union cardholders. The most significant segment jump in CO-OP Network transaction totals is an increase of more than 5 million monthly PIN debit transactions in 2004. For the year, CO-OP Network PIN debit transactions experienced an overall 34 percent rise, with signature debit transactions increasing 25 percent. Several other factors contributed to CO-OP Networks record transaction growth in 2004, including the addition of nearly 435 credit union clients, 1,912 ATMs and 1.5 million cardholders.


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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce