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November 15, 2009

CO-OP Financial Services Renews Contract With Cardtronics

To keep CO-OP Network of ATMs in 7-Eleven Stores across US

By CBR Staff Writer

Cardtronics, a non-bank operator of ATMs and CO-OP Financial Services, a provider of access and convenience products for credit unions, have renewed their contract thus enabling the ATMs in 7-Eleven stores across the country to be part of the CO-OP Network up to July 2014. CO-OP Network has been available on the ATMs in 7-Eleven stores since November 2005.

CO-OP Network comprises 28,000 ATMs throughout the US, offering credit union members surcharge-free access to their checking and savings accounts. Approximately 5,500 ATMs in 7-Eleven stores are covered under the contract renewal, about 2,200 of which are deposit taking. In addition, about 340 ATMs in Costco membership warehouses and about 670 ATMs in Walgreens drug stores also are covered under the agreement with Cardtronics.

Stan Hollen, president/CEO of CO-OP Financial Services, said: “The key to credit union membership growth is making access to accounts easy and convenient. 7-Eleven is a large chain store, so having CO-OP Network in these locations is a great benefit that our credit unions can offer to their members, and an important competitive edge among financial institutions.”

Rick Updyke, president of global development at Cardtronics, said: “CO-OP has been a strong partner for Cardtronics and 7-Eleven. Continuing our relationship provides substantial benefits to all parties. CO-OP Network drives a significant amount of transaction volume for Cardtronics’ 7-Eleven ATMs while providing convenient cash availability for millions of consumers.”

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