The Pennsylvania Credit Union Association and CO-OP Financial Services, which operates CO-OP Network’s 25,000 surcharge-free ATMs in 50 states and 10 countries, have entered into a Network Sponsorship Agreement, which allows PCUA to sponsor its member credit unions joining CO-OP Network.
“It was important that we partner with a credit union-owned provider,” said PCUA President/CEO James J. McCormack. “CO-OP Financial Services provides credit unions with affordable electronic services that allow them to remain competitive in an ever-expanding market of financial services.”
Many Pennsylvania credit union members already benefit from surcharge-free ATM transactions through CU$, a surcharge-free alliance of credit unions operating in Pennsylvania and 15 other states. “While we’ll continue to support the CU$ alliance, our partnership with CO-OP Financial Services allows Pennsylvania credit unions the ability to join the most extensive surcharge-free ATM network in the country,” said McCormack.
CO-OP Network currently has 564 surcharge-free ATMs located in Pennsylvania, a number that is expected to grow as a result of the agreement, according to CO-OP Financial Services President/CEO Stan Hollen. “We’ve been targeting Pennsylvania as one of the states to bolster surcharge-free ATM accessibility in the Northeast. Our partnership with the Pennsylvania Credit Union Association, which is well-respected across the state because of its long tradition of providing support and affordable services to member credit unions, will be an asset towards helping CO-OP Network’s further growth in the region.”
Philadelphia-based Freedom Credit Union, with more than 55,000 members and $325 million in assets, is the most recent Pennsylvania credit union to join CO-OP Network. According to Freedom Vice President Kirby Wood, members appreciate the credit union’s decision to join CO-OP Network. “Being able to access their accounts at surcharge-free ATMs in 7-Eleven stores and other convenient locations throughout the greater Philadelphia area has proven to be a tremendous benefit for our members,” said Wood.
About the Pennsylvania Credit Union Association
The Pennsylvania Credit Union Association provides legislative, professional development, and operational support for more than 500 member credit unions in Pennsylvania. These credit unions have assets in excess of $23 billion and serve nearly three and a half million members.
About CO-OP Financial Services
Established in 1981 and located in Ontario, Calif., CO-OP Financial Services (formerly CO-OP Network) is the nation’s largest credit union service organization. Wholly-owned by its credit union shareholders, CO-OP provides volume discounts on products and services that include ATM network access, ATM processing, debit/card services and shared branching. With nearly 2,000 credit union members, more than 25,000 surcharge-free ATMs (including 6,000 deposit-taking), 120 million-plus monthly transactions and 24 million cardholders, CO-OP Financial Services is the No. 1 credit union EFT network and processor in the U.S. financial services industry. CO-OP Financial Services’ membership has access to 800,000 ATMs worldwide through links to NYCE, STAR, Cirrus, Pulse and Plus.