Credit Union Solution – With Unmatched National Coverage and Value
RANCHO CUCAMONGA, Calif. (August 15, 2012) – CO-OP Financial Services is introducing CO-OP Network PIN POS service powered by First Data, enabling debit cardholders of participating credit unions access to nearly two million STAR® Network point-of-sale locations around the country.
“CO-OP has considered offering PIN POS for many years, but only now have the right circumstances come together,” said Stan Hollen, President/CEO, CO-OP Financial Services. “In cooperation with First Data’s STAR Network, our business partner for nearly 30 years, CO-OP can provide our clients with unmatched national PIN POS coverage and value.”
CO-OP Financial Services has also signed a contract renewal extending its electronic funds transfer (EFT) network access agreement with the STAR Network.
CO-OP Network PIN POS service offers nationwide coverage that gives credit union members the convenience of being able to use their debit card where they want to, and strengthens credit union relationships with members, especially those accustomed to big bank accessibility.
Additional member benefits of the extended access agreement include greater choice in payment method, easier access to money and superior PIN debit fraud protection. The added POS revenue stream benefits all participating CO-OP members and, in the case of CO-OP shareholding credit unions, the POS transaction volume will also increase annual patronage (dividend) opportunity.
CO-OP Financial Services expects to begin implementing the extended PIN POS service with existing clients beginning Oct. 15, 2012.
For more information, visit www.co-opfs.org.
The STAR Network enables consumers to use their ATM/debit cards to obtain cash and make purchases quickly and securely throughout the United States. With a singular focus on real-time debit payment processing for more than 25 years, STAR is committed to driving increased reliability, security, cardholder convenience, and choice wherever and whenever consumers demand access to their money. STAR puts its debit expertise and industry knowledge to use for its clients – which include financial institutions, retailers, processors and billers – delivering innovative services as well as market insights that help them increase the value they derive from their debit programs. For more information, visit www.star.com.
The STAR Network is an integral part of the payment services offered by First Data Corporation. Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
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, 4,600 shared branching locations (plus 2,200 Vcom® kiosks) 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.