CO-OP Partnering With CU To Bring Fee-Free ATMs To Underserved
CO-OP Financial Services, the parent CUSO of the popular CO-OP Network of fee-free ATMs, is working with a Seattle-based credit union to bring fee-free ATM services to largely unbanked populations.
The $9.2 million Express Credit Union has deployed customer service representatives to 12 local nonprofits to help them offer financial services to the underserved people who are the nonprofit's clients. While the clients on site can use the Express representatives to conduct some of their transactions, they generally have not been able to access cash. Enter CO-OP, whose partnership has enabled Express to offer those Express members access to ATMs around the city.
Through CO-OP Network, Express CU now provides its members with access to more than 150 ATMs in Seattle, 1,000 in Washington and 28,000 nationwide, 9,000 of which access deposits, CO-OP said.
"CO-OP plays a key role in our outreach program," said Norma Hernandez, CEO of Express CU. "About 90% of our new members would not be able to use our services without the convenient access they have to ATMs and branches provided by CO-OP Network and CO-OP Shared Branching."
"Communities with healthy financial markets are stronger and more sustainable," said Stan Hollen, President/CEO of
CO-OP. "Millions of members, particularly those with lower incomes and net worth, benefit greatly from the affordable and accessible services of credit unions."