CO-OP financial services completes acquisition of eCom

CO-OP acquires eCom

CO-OP financial services has completed its acquisition of Kansas based Corporate Network eCom, including the company’s employees and online and mobile bill pay services. The acquisition deal received approval from the National Credit Union Administration on 15th December 2011 and was expected back then to close within 90 days. No lay-offs are included in the deal and all eCom employees are transferring to CO-OP Financial Services and continuing to service eCom online and mobile bill pay clients. CO-OP President/CEO Stan Hollen explains that “the transition of eCom services to CO-OP is so complimentary that eCom clients will not need to change payment processing platforms.”

eCom, a subsidiary of US Central corporate credit union, was founded in 1999 and today has more than 750,000 credit union members using its electronic bill payment solutions. Its trademark solution, MemberPayPlus, enables account holders to receive, view, manage and pay bills from their credit union’s online banking site.

Hollen believes that the acquisition will help clients “compete more effectively in the future against banks in terms of access and convenience services they can offer their members.”

Related reading

Leave a comment