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Members' Expectations of Real-Time Payments
Tuesday, October 14, 2014 6:40 AM

In our culture, instant gratification has become a common expectation.  Your members want to see money transferred into their account immediately.  They don’t want to wait a day to see if their transaction has been processed. If speed is a function of integration, then the faster a process unfolds, the better it appears to work—especially to consumers. 

Most members are still hesitant about mobile banking, according to a survey taken by FindaBetterBank earlier in 2014, which showed a 30 percent increase in consumers who tried P2P between April 2013 and January 2014. But the actual numbers of the analysis were small: 10.3 percent compared to 13.2 percent. 

The significance of a new user being able to quickly see his/her mobile P2P transaction is very high. Because of this, CO-OP has built real-time shared branching transactions into Sprig. Real-time payments allow credit unions to catch up with the speed expectations their members already have. 

For more information on Sprig, go to

Learn more about real-time payments through a CO-OP book available for download:


CO-OP Financial Services is not only a business partner of Credit Union Resources, Inc., but also the industry leader in access and convenience products for credit unions. With over 30 years of credit union service, CO-OP connects credit union members to their accounts through network services, payment processing, e-commerce, CO-OP shared branching and call center services. A total of 3,500 member credit unions, 30 million cardholders, nearly 30,000 surcharge-free ATMs, more than 5,000 shared branch locations, and 200 million-plus monthly transactions make CO-OP Financial Services the nation's largest credit union service organization—offering resources that enable deeper member engagement to help credit unions prosper.