RANCHO CUCAMONGA, Calif. (October 17, 2012) - CO-OP Financial Services and the SHAZAM Network have signed an agreement that will allow members of participating credit unions to access surcharge-free and shared deposit ATMs nationwide.
"This agreement provides for a significant expansion of convenient access to accounts for members of credit unions in the SHAZAM Network," said Stan Hollen, President/CEO, CO-OP. "The credit unions can build stronger ties to their members, as they can continue to be there for their members virtually everywhere - whether they are traveling a few miles from home or across the country."
Like CO-OP Network, SHAZAM's Network of ATMs provides surcharge-free access for cardholders of financial institutions who participate in its Privileged Status program.
"CO-OP and SHAZAM share the same focus and commitment to delivering more convenience and cost savings for our members," said Dan Kramer, SVP, Marketing and Merchant Services, SHAZAM. "This new alliance allows us to continue to realize our vision of open access and also paves new inroads to allow our financial institution partners to compete more effectively and profitably."
The agreement was facilitated by The Members Group (TMG), located in Des Moines, Iowa, a business partner to both CO-OP and SHAZAM. In January TMG and CO-OP formed a strategic partnership, which included a strategic investment by CO-OP in TMG.
CO-OP Network is the nation's largest ATM network specifically for credit unions, with 30,000 ATMs, 9,000 of which accept deposits, and many located in retail locations such as 7-Eleven, Costco and Walgreens. For more information, visit www.co-opfs.org.
The SHAZAM Network was founded in 1976 and is one of the last remaining member-owned and controlled EFT networks and processors in the industry. SHAZAM provides innovative and state-of-the-art EFT services to community financial institutions in 33 states. SHAZAM is a single source provider for ATM processing, debit and ATM card processing, card authorization services, merchant processing, Automated Clearing House (ACH) services and information security solutions. To learn more, visit SHAZAM at www.shazam.net.
About CO-OP Financial Services
Based in Rancho Cucamonga, Calif. and founded in 1981, CO-OP Financial Services is the industry leader in access and convenience products for credit unions. CO-OP connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,500 credit union members, 30 million cardholders, 30,000 surcharge-free ATMs, 4,500 shared branch locations and more than two billion annual transactions, CO-OP Financial Services offers the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org.