CO-OP Financial Services Announces Acquisition of TMG

Financial Services has acquired TMG and restructured its leadership team to deliver payments products and engagement services catered t0 today’s transformational market dynamics and make credit unions the most sought-after financial providers to modern consumers.

“The acquisition of TMG and the evolution of our leadership team are designed to maximize benefits for the clients of both companies,” said Todd Clark, President/Chief Executive Officer. “We are creating a new CO-OP that embraces technology and best-in-class service delivery to create a seamless, secure and personalized experience for our clients and their members, however they choose to interact with their credit union using a CO-OP product.”

CO-OP had been the minority owner of TMG and swallowed up all the remaining shares of the company from the Iowa Credit Union League for $100 million.

With the merger of TMG, CO-OP becomes a fully integrated, comprehensive payments services company, bringing to fruition the vision of the original partnership formed by the two companies way back in 2012.

“The combined forces of TMG and CO-OP provide credit unions with a single point of entry to the most innovative, tailored, cost-effective products and services as they prepare for a rapidly transforming payments landscape,” said Clark. “We will offer the market greater integration of the two company’s product lines and a simplified, predictive client experience. We will also leverage artificial intelligence, custom business intelligence, consultation and deeper security offerings that marry machine learning and human analysis to perfect authentication, reporting and anticipation of fraud.”

The acquisition works out perfectly considering CO-OP’s $25 million investment in technology infrastructure and product innovation in 2017.

CO-OP’s investment highlights improving the industry’s ability to fight fraud while advancing a positive, sophisticated consumer payment experience, transforming everything about the company and what it has to offer to meet the rapid digitization of payments.