Shazia Manus, the former TMG CEO who
CO-OP said in a release it is currently searching for a replacement for Manus. In the interim, her duties will be handled by Todd Clark, CO-OP’s president and CEO.
In her new role as chief strategy and business development officer, Manus will lead the AdvantEdge Analytics Strategy and Business Development team, responsible for go-to-market and product strategy, customer experience, strategic partnerships and acquisitions.
Manus had joined CO-OP last year when the company acquired credit processing expert TMG of Des Moines, Iowa. The Bangladesh-born Manus had served as TMG’s president and CEO for six years, during which time the company doubled its revenue growth and grew staff by 30 percent.
“The acquisition of TMG was a milestone in the history of CO-OP Financial Services, giving us a best-in-class credit processing solution and helping to transform us into a fully-integrated, comprehensive payments services company,” Clark said in a statement. “Shazia played a key role in successfully integrating the two organizations, and ensuring that we provide credit unions with the products and solutions expected of them by their members in a rapidly digitalizing marketplace.”
Clark added that he is “very grateful” to Manus for “her leadership this past year, and congratulate[s] her on the next phase of her career, which I know will be one of outstanding leadership in our movement.”
Manus herself commented that “it has been an honor to work with Todd and the many incredible leaders who are ushering in a new CO-OP. I’ve particularly enjoyed working with the product and strategy organization, which is delivering some of the most technologically advanced, seamless and secure payment solutions in the industry.”
Her departure comes amid continued success for CO-OP, which recently announced a $30.5 million patronage dividend for fiscal year 2017. That figure brings the firm’s total rebates to member credit unions to $426.8 million since it became a cooperative in 1996.
“CO-OP made a tremendous investment in technology infrastructure and product innovation in 2017, in addition to acquiring TMG,” said Clark. “The result is a strategic focus on offering solutions that deliver a personalized, seamless and secure experience for members to engage with their credit union. This vision was realized through the hard work of a new, dedicated and diverse leadership team from the two legacy companies and new hires as well. Our year of transformation was also a well-balanced one, enabling us to report a strong patronage to our 1,200 shareholding credit unions.”
