CO-OP Announces $53.3 Million Shareholder Patronage, Highest Dividend Ever Recorded by a CUSO
April 5, 2016
April 6, 2016
From the CO-OP offices today, CO-OP Financial Services has announced a patronage (shareholder dividend) pool of $53.3 million for 2015, the highest annual dividend ever recorded by a credit union service organization for its owner credit unions.
The shareholder patronage for 2015 now raises to $367.9 million the total patronage amount made available by CO-OP since the CUSO became a cooperative in 1996.
The $53.3 million patronage is partially the result of the company’s sale during 2015 of most of its investment in Ensenta Corporation of Redwood Shores, California (http://www.ensenta.com). CO-OP first invested in this provider of self-service and image solutions in 2006, and the tech firm now holds four patents for its image capture capabilities.
“We were able to apply some gains from the sale of Ensenta stock for shareholder patronage, and at the same time maintain a Board seat to influence product development direction for the good of credit unions,” said Stan Hollen, President/CEO of CO-OP. “The transaction was among many milestones for CO-OP that made the past year among the most eventful in the company’s history, all of which contributed to a record patronage and maximum return on value for our shareholders.”
Click here for more on today’s announcement.
Questions about this story? Contact Eric Horvath: 503.350.2222, email@example.com.
Posted in NWCUA.