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CO-Op Financial Services completes acquisition of eCom's assets

Tuesday 7 February 2012 | 01:53 PM CET

CO-Op Financial Services has completed the acquisition of eCom’s assets, including its online and mobile bill pay services as well as employees.

As a result, all eCom’s employees will work for CO-OP Financial Services and continue to serve eCom online and mobile bill pay clients. eCom’s bill pay service, dubbed the MemberPayPlus, allows members to receive, view, manage and pay bills by logging-on to their credit union’s online banking website.

CO-Op Financial Services has received approval by the National Credit Union Administration to buy the assets of eCom, a subsidiary of US Central corporate credit union, in December 2011. Back then, the company expected the acquisition to be completed in 90 days.

CO-Op Financial Services allows credit union members to connect to their accounts via network, payment processing, e-commerce, shared branching and call center services. Currently, the company has over 3,000 credit union members, 30 million cardholders, 28,000 ATMs and 4,400 shared branch locations.
 

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