Update: Busy Summer; Unveiling of 2022 Product Roadmap

Logo for CO-OP Financial Services

In the past month, CO-OP Financial Services made available to its more than 3,000 credit union clients its 2020 Annual Report, which can be read online and downloaded as a PDF document.

Working arm-in-arm with its state league and credit union partners, CO-OP has been evolving from a reseller to an ecosystem provider of payments technology and solutions, which has been its mission since 2016.

The company’s commitment did not slow down in 2020 because of the COVID-19 pandemic, but rather took on greater urgency to provide maximum value to the industry. CO-OP turned a year of pandemic into a year of record momentum that is leading to more great work with, and on behalf, of its clients in 2021.

In addition, CO-OP unveiled a new white paper based on research the company commissioned EY (Ernst and Young Global) to perform. The CU Payments Outlook shows that the pandemic dramatically accelerated a years-long trend toward the fragmenting of consumers’ primary financial relationships (PFR). The study of credit union members and prospects found fintechs to be the greatest cause of consumers’ willingness to bank with multiple providers. The study, which outlines opportunities for credit union growth, is now available to all credit union leaders at no charge via CU Payments Outlook here: www.co-opfs.org/CU-PaymentsOutlook.

Also, this past summer CO-OP was named among the “2021 Achievers 50 Most Engaged Workplaces” by Achievers, a provider of employee voice and recognition solutions. In making the announcement, Achievers President and CEO Jeff Cates said CO-OP and the other award-winning organizations “embody what it means to be a 'people-first' business and have proven how the prioritization of employee experience can help an organization withstand even the most difficult of times.”

Finally, in late September, CO-OP announced its solutions and technology roadmap for 2022, addressing the fast-changing consumer preferences for digital technologies that accelerated in the wake of the pandemic. The roadmap keys on the need for credit unions to develop active, primary financial relationships with members who are increasingly meeting their own needs with fragmented financial affiliations. Complete details of the roadmap can be found here.

For more information about CO-OP, visit www.coop.org.

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