CO-OP Financial Services


CO-OP Financial Services, formerly known as CO-OP Network and also known as CU Cooperative Systems, Inc., is a company that operates an interbank network connecting the ATMs of credit unions in the United States, with locations also in Canada and certain United States Navy bases overseas. It is the largest credit union-owned interbank network in the US. The company’s payments solutions, fraud mitigation services and strategic counsel help credit unions optimize member experiences.
It is headquartered in Rancho Cucamonga, California.

History

1981: The CO-OP Network begins, when 20 credit unions in California unite their 32 ATMs.
1986: The first CO-OP ATMs are deployed at 7-Eleven stores.
2002: The network includes its first Canadian member, CS CO-OP.
2017: CO-OP acquires payment processor TMG, of which it held minority ownership since 2012.
2019: CO-OP Financial Services processes 7.6 billion financial transactions.

Shared branching

CO-OP Financial Services also provides what the company calls shared branching. Members of 1,800 credit unions can perform most teller transactions at any one of the network's 5,700 branches. This system was founded in 1975 by five Detroit-area credit unions to minimize costs associated with having their own branches.