Credit union members whose debit cards carry the CO-OP Network logo will soon be able to use their cards at more than 2 million point-of-sale terminals around the country that carry the STAR Network logo.
“CO-OP has considered offering PIN POS for many years, but only now have the right circumstances come together,” said Stan Hollen, president/CEO of CO-OP Financial Services in Rancho Cucamonga, Calif.
“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,” Hollen said.
CO-OP Financial Services has also signed a contract renewal extending its electronic funds transfer network access agreement with the STAR Network.
The new 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, CO-OP said.
Additional member benefits of the extended access agreement will include greater choice in payment method, easier access to money and superior PIN debit fraud protection, CO-OP added.
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 opportunity, the big CUSO said.
CO-OP expects to begin implementing the extended PIN POS service with existing clients beginning Oct. 15.