With two new credit union partners, CO-OP Financial Services is continuing its push into debit processing and ATM management.
St. Mary’s Bank, the oldest CU in U.S., said it will start processing its debit card transactions with CO-OP. Its debit card program includes about 21,000 cards and nearly 203,000 monthly transactions, according to the CUSO in Rancho Cucamonga, Calif.
“We selected CO-OP Financial Services for debit processing after a thorough due diligence process,” said Ronald Covey, president/CEO of St. Mary’s. “The bottom line for us was that the features and functionality of the CO-OP debit program were strong; it made financial sense for us and we selected a company that embraces credit union core values, which was very important to us.”
Founded in 1908 and based in Manchester, N.H., the cooperative serves more than 62,000 members and has assets of $715 million.
The Phoenix-based TruWest Credit Union with nearly 60,000 members and $766 million in assets, has also signed on to have its fleet of 30 ATMs managed by CO-OP.
“We are looking to bring state-of-the-art ATM technology to enhance the member experience,” said Thomas Gessel, chief technology officer at TruWest. “The upgrades we have planned will help members be comfortable transacting their business 24 hours per day at an ATM, rather than needing to visit a teller. With 30 ATMs, we felt that the most economical and efficient way to achieve this is having CO-OP handle ATM management for us.”
Gessel said CO-OP’s ATM expertise will be valuable to the credit union as it works to comply with the new requirements of the Americans With Disabilities Act and Payment Card Industry Data Security Standards. ATM monitoring by CO-OP will also ensure the highest possible ATM uptime, he added.
CO-OP ATM Managed Services’ suite includes fleet consultation and financing, fleet maximization and innovation, fleet management and coordination, and ATM payment processing. The CUSO serves 3,000 credit unions.