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One in a million visit for Cobh Credit Union member

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REPRO FREE Provision 130815 Tracy Farrell from Cobh who was the millionth transaction customer for CUSOP pictured with  Michael Carlin, Mgr Cobh Credit Union, Colman Rasmussen, Chm Cobh Credit Union and Kevin O'Donovan, CEO Cusop Pic Michael Mac Sweeney/Provision

Tracy Farrell from Cobh who was the millionth transaction customer for CUSOP pictured with Michael Carlin, Mgr Cobh Credit Union, Colman Rasmussen, Chm Cobh Credit Union and Kevin O’Donovan, CEO Cusop
Pic Michael Mac Sweeney/Provision

For Ms Tracy Farrell, a visit to her local credit union in Cobh, Co Cork turned out to be a ‘one in an million’ event. Tracy’s lodgement was the one millionth transaction carried out by ‘CUSOP’, the credit union movement’s electronic payments platform, which was introduced in over eighty credit unions throughout the country, including Cobh.

Married with two boys, Bailey (4) and Riley (2½) Tracy said that it was a total surprise when she was told her transaction was so special.

“When the call came through, I thought I’d made a mistake transferring money from my account into my son, Bailey’s, account.

“I have been a member of the credit union since I was a child. Indeed, I still have my first book from all those years ago. Its different today and I love the flexibility of the new electronic system. I can get things done quicker,” Tracy said.

Tracy was presented with €250 to mark this special milestone in the rollout of the CUSOP technology by Mr Colman Rasmussen, Chairman of Cobh Credit Union .

“Our credit union has seen the benefits of the CUSOP electronic payments platform. We are now offering our members more services, while keeping our costs down”.

“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,” Colman said.

Thanks to CUSOP, Cobh 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.

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