TALLAHASSEE, Fla. — Credit Union 24, the CU-owned ATM and point of sale network announced that changes in its POS interchange model has resulted in 20% more interchange income for its participating member CUs.
The network credited the increase to changes in the way it structures its interchange fee schedule to leverage the network's sales volume to a better advantage for the CUs.
"This is a clear and quantifiable benefit of a member-owned cooperative and the best example of why it's so important that credit unions maintain control over the dominant transaction set in the payments landscape-point-of-sale," said Jim Park, president and CEO of Credit Union 24.
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