An important milestone for Credit Unions was reached recently when CUSOP, the credit union movement’s electronic payments platform, had it one millionth transaction. This service has been introduced in over eighty credit unions throughout the country, including Ballaghaderreen Credit Union When asked how Ballaghaderreen Credit Union had benefited from using this service Bill Golden said “Our credit union has seen huge benefits to using the CUSOP electronic payments platform.
We are now offering our members more services, and looking to add even more”. “We also believe that, by having a modern transaction service, we are attracting more young people as members as they can carry out their transactions from anywhere in the EU area,” Bill Golden said. Thanks to CUSOP, Ballaghaderreen Credit Union members are able to have payments from a bank, employer or social welfare office paid directly into their credit union accounts by electronic transfer.
CUSOP, is a credit union movement initiative that enables members to carry out their payments transactions electronically and has the capacity to introduce a range of modern financial services in the future. It is the largest provider of this service to credit unions.
Celebrating its one millionth transaction, Mr Kevin O’Donovan, CEO says that CUSOP was recording 55% growth in transactions this year. “The volume growth reflects the accelerated connection of credit unions to CUSOP and we are now processing over 200,000 transactions a month”. “Reaching this one millionth milestone so quickly highlights the credit unions support and confidence in this movement-led initiative”.
“With current growth continuing, we believe it can be the provider of choice on electronic payments products now and into the future for all credit unions,” Kevin said.