Northwest Resource Among First to Implement New ‘Virtual Credit Union Branch’

CO-OP Financial Services has introduced CO-OP Sprig, a multi-institution “virtual credit union branch” that gives members the ability to make person-to-person (P2P) payments and aggregate their accounts in a single portal.

CO-OP Sprig is the first phase in CO-OP’s multi-phase plan to expand the product’s P2P features and network range into a true digital wallet—and beyond, to make it perform as a virtual credit union branch. In its initial phase, CO-OP Sprig is an in-network solution, allowing members to make transfers between, or payments to, any of their accounts. These transactions can include savings, checking or loan accounts residing at any credit union participating in CO-OP Shared Branching or connected to CO-OP Connect, the switch that enables CO-OP Sprig.

Using CO-OP Sprig, credit union members transfer money from their deposit accounts based on the real-time good funds availability model, rather than the delayed automated clearing house (ACH) model. Members can make transfers between their accounts and immediately verify funds are available in the destination account. There are no implementation or base monthly fees associated with the service.

Northwest Resource Federal Credit Union in Portland, Ore., is one of the first credit unions to put the new offering into practice.

“CO-OP Sprig was extremely easy to implement, for both the credit union and our members,” said Jim McCarthy, president and CEO of Northwest Resource. “The clean and easy-to-use interface can be accessed from a mobile phone or tablet or PC, providing members with account access from virtually anywhere. It is a great tool for those members who may have accounts at multiple credit unions because it allows them to manage their accounts from different credit unions all in one centralized location.”

And according to CO-OP President and CEO Stan Hollen, CO-OP Sprig has already been met with success by existing CO-OP clients.

“CO-OP Sprig has, in fact, already been implemented by many credit unions,” Hollen said. “FSCC, LLC, a part of CO-OP Shared Branching, offered CO-OP Sprig to our clients in a soft launch. These credit unions are providing their members with a safe, secure and proven online and mobile payment service, under the movement’s most widely recognized consumer brand name.”

In-network me-to-me and me-to-you payments are supported in the current release of CO-OP Sprig, as is remote deposit capture via Apple iPhone. Future phases of the service will include out-of-network me-to-anyone payments, a point-of-sale option and RDC via Android-enabled smartphones.

“We found CO-OP Sprig to be the perfect solution in providing mobile banking to our members,” said Linda Pettit, CEO of Cal Center Credit Union. “Our members, particularly those between the ages of 25 and 40, are finding our credit union the perfect financial solution to their lifestyle and needs. Without the mobile product, we would not have been able to capture this market as soon as we would have wanted to.”

 CO-OP Sprig is available immediately. To contact CO-OP Financial Services about CO-OP Sprig, send an e-mail to


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. To learn more about how the Association’s partnership with CO-OP Financial Services can benefit your credit union, contact Director of Strategic Partnerships Craig Reed: 206.340.4789,

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