TALLAHASSEE, Fla. — Credit Union 24, the ATM/EFT network headquartered in Florida, announced that it has signed the $1.6 billion Tower Federal Credit Union to the cooperative EFT network.
In addition to a national point of sale network, Tower members will gain access to approximately 3,500 Credit Union 24 ATMs in Maryland, 328 of which are surcharge-free, Credit Union 24 said.
"The decision to join Credit Union 24 not only shows that we're working to fulfill our members' expectations with regard to surcharge-free ATM access," said Martin M. Breland, Tower's president and CEO, "but also reflects our commitment to the credit union movement. We're now able to keep much of our point-of-sale activity within the credit union community, and that sealed the deal."
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Credit Union 24 network launched its member-owned national POS network in 1998, and now claims more than 400,000 terminals across the country, including most national retailers and local community merchants. The Network said this widespread network would be a particular benefit to Tower since 25% of the CUs members lived outside of Maryland.
"We're thrilled to welcome Tower into the network," said Jim Park, Credit Union 24′s president and CEO. "As one of the country's top-50 credit unions, Tower shows us that our credit union-owned network can compete favorably with the bank-influenced networks in both value and access."
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