CO-OP Network Heading Into 7-Eleven Stores

ONTARIO, Calif. – Credit unions which are members of CO-OP Network will be able to offer their members surcharge-free ATM access in over 5,300 7-Eleven stores in 30 states, the Network announced on Nov. 17. “Driving new customers to our stores will be one of the primary benefits of this relationship,” said Rick Updyke, 7-Eleven’s vice president of business development. “7-Eleven’s convenient locations will provide millions of CO-OP Network credit union members with greater access to surcharge-free ATM services.” “CO-OP Network’s goal is to recommend using ATMs in well-lit, high-traffic areas, which makes 7-Eleven a great partner for us,” says Stan Hollen, CO-OP Network CEO. “7-Eleven, with its well-recognized brand and broad store coverage in the United States, will provide an ideal complement to our existing ATM locations. “Since 2000, CO-OP Network ATM access has grown by more than 500%,” added Hollen. “With more ATMs where our members live, work and shop, credit unions are providing a convenient way to compete nationally with larger financial institutions.” The deal between CO-OP and 7-Eleven is really more of a reunion than the initialization of something entirely new, Holland added. “It reacquaints us with some old friends,” he said. CO-OP Network had been one of the financial institutions and networks which had been cooperating with 7-Eleven on ATM placement a few years ago, only to see the relationship cool over time. A renewed interest in using ATMs to help drive business and foot traffic in the stores had helped convince the convenience store change to look once again for financial network partners, a spokesman for the company explained. CO-OP Network is enthusiastic about the deal, in part because it will help raise its profile in parts of the country where it is relatively under-represented and in a way that will be easy for cardholders to identify. “A cardholder doesn’t have to check for our logo or check our Web sites for locations,” Jim Hanisch, senior vice president with the CO-OP said. “7-elevens are just all over.”