CO-OP Network, the largest credit union electronic funds transfer network in the country, and Alaska Option, Alaska’s leading EFT provider, have agreed to open a gateway link between the two organizations.
Under the agreement, credit unions that use Alaska Option’s EFT services can sign with CO-OP Network for surcharge-free access to 20,000 ATMs nationwide. Gateway links like the CO-OP Network/Alaska Option agreement provide credit unions with a cost-effective method to extend their membership’s ATM access across other ATM and POS networks.
“Our presence in Alaska is extensive and we’re always looking to provide national ATM access to our member financial institutions,” said Alaska Option President John Shipe. “This gateway link is a great opportunity for our credit unions to extend their membership’s surcharge-free ATM access across 50 states and Canada.”
Alaska Option provides 24 financial institutions in Alaska and Washington with access to more than 350 ATMs. More than 98 percent of the debit cards issued within the state carry the Alaska Option logo.
“Through this gateway agreement, Alaska Option credit unions can provide their members nationwide ATM access while retaining their local EFT services,” said CO-OP Network Executive Vice President Business Development Eric Porter. “In turn, CO-OP Network member credit unions interested in expanding their ATM presence in Alaska can sign a gateway agreement with Alaska Option.”
CO-OP Network ([www.co-opnetwork.org]), established in 1981 and located in Ontario, Calif., is wholly-owned by its credit union shareholders and provides volume discounts on products and services that include risk management as well as debit and deposit access. With more than 1,770 credit union members, 20,000 surcharge-free ATMs, 80 million plus monthly transactions and 20 million cardholders, CO-OP Network is the No. 1 credit union EFT network in the U.S. financial services industry. CO-OP Network, whose membership has access to over 800,000 ATMs worldwide through links to NYCE, STAR, Cirrus, Pulse and Plus, also offers national shared branch services via its subsidiary, Service Centers Corporation, based in Southfield, Mich.