CO-OP Financial Services Acquires eCom Assets, Offers Credit Unions Online Bill Pay Services
February 8, 2012
February 9, 2012
CO-OP Financial Services announced that it has completed the acquisition of the assets of Corporate Network eCom, LLC, including its online and mobile bill pay services and all employees.
On Dec. 15, 2011, CO-OP Financial Services announced that it had received approval by the National Credit Union Administration (NCUA) to purchase the assets of eCom, a subsidiary of U.S. Central corporate credit union. At the time, the company expected the purchase to close within 90 days. CO-OP Financial Services was selected by the NCUA in a compete bid, required as U.S. Central was placed into conservatorship in March 2009.
“The bill pay services of eCom are a perfect extension of the e-commerce business line of CO-OP Financial Services,” said Stan Hollen, President and CEO of CO-OP. “The transition of eCom services to CO-OP is so complementary that eCom clients will not need to change payment processing platforms. This acquisition will help our clients compete even more effectively in the future against banks in terms of access and convenience services they can offer their members.”
All eCom employees will become employees of CO-OP Financial Services and continue to service eCom online and mobile bill pay clients. The organization, located in Lenexa, Kan., was founded in 1999, and today more than 750,000 credit union members use its electronic bill payment solutions.
The flagship MemberPayPlus enables members to receive, view, manage and pay all of their bills when they log onto their credit union’s online banking site. MemberPayPlus is a premium, fully-hosted solution for credit unions looking for a comprehensive member bill pay service, but it is also highly price competitive, a characteristic of all eCom products.
For more information, visit www.co-opfs.org.
About CO-OP Financial Services
Based in Rancho Cucamonga, Calif., CO-OP Financial Services is the industry leader in access and convenience products for credit unions. With 30 years of credit union service, CO-OP connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,400 shared branch locations and more than two billion annual transactions, CO-OP Financial Services is the nation’s largest credit union service organization, offering the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org.
Strategic Link is the NWCUA’s wholly-owned service corporation, providing the Association’s member credit unions with exclusive high-quality, competitively-priced products and discounted services. Questions? Contact Sales & Marketing Associate Craig Reed: 206.340.4789, firstname.lastname@example.org.
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