Despite Competition, CO-OP Network Keeps On Growing
ARLINGTON, Va. - Despite the wide variety of local and national ATM network options available CO-OP Network, the credit union owned ATM and EFT network, remains the single largest and most recognized credit union ATM brand. After the purchase of the PULSE EFT Association by Discover, CO-OP Network became the largest ATM network owned by its financial institution members and the Network now claims 60% of all credit union-owned ATMs participate in the CO-OP Network. As with the rest of the debit world, however, transactions at point of sale terminals in which cardholders use their personal identification numbers show the fastest growth for CO-OP and the network continues to point to its cooperative nature and its widespread ability to take deposits as hallmarks of its service. "We have the only brand with meaning to the cardholder - if our cardholder sees the CO-OP Network brand at an ATM they know they will not be surcharged and if the ATM has a depository there is a very high degree of likelihood they can make a deposit," noted Jim Hanisch, executive vice president with the Network."Despite a good deal of visibility for non-credit union organizations encouraging non-cooperative models, credit unions continue to embrace credit union organizations and our cooperative model," he added.