CO-OP Financial Launches Text Banking

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RANCHO CUCAMONGA, Calif. – CO-OP Financial Services announced this morning it is now offering its credit unions a text banking service, setting up a major competition over the service with nearby Financial Service Centers Cooperative.

CO-OP said it will be charging 12 cents per transaction for its text service, substantially lower than the 35 cents FSCC lowered its fees to just last week for its MyCUAnywhere mobile tex banking service.

“CO-OP has offered a multi-platform mobile banking solution for more than a year, but with CO-OP Mobile Text, it is now easier than ever for credit unions to start and manage a mobile banking program,” said Stan Hollen, president of CO-OP Financial. “CO-OP Mobile Text allows credit unions of any size attract groups such as the young and those living in rural areas, who prefer mobile devices as their access points for everything from music to news.”

Credit unions currently using the CO-OP Next Generation Network switch for shared branching, check imaging and other services can implement CO-OP Mobile Text immediately. They simply need to opt-in to this NGN service to be activated.

With CO-OP Mobile Text, a credit union member can send a text message for an account inquiry and receive information back promptly. The service enables members to verify balances, view transaction history and transfer funds within their accounts. CO-OP Financial Services provides the short code to minimize credit union expense.


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