Credit Union 24, one of two nationwide credit union-owned ATM networks, reported that its fee-free machines have saved consumers more than $20 million in the first six months of 2012.
“Consumers require—and always will—fee-free access to their cash, and only within the credit union movement can consumers find the largest surcharge-free ATM access,” said Jim Park, CEO of Credit Union 24.
“Providing this widespread, surcharge-free ATM access is possible because of our network’s collaborative business model,” Park said.
“The partnerships we have formed over the years with credit unions and other industry providers enable us to provide this valuable savings for credit union members,” he said. “Collaborative partnerships are the foundation of Credit Union 24’s business, and will always remain as such as the industry and our network continue to explore alternative payment methods.”
The network reported that 42% of credit unions polled in Credit Union 24’s fourth-annual Credit Union Industry Survey in the spring of 2012 cited an increased use of ATMs among their membership during the past year.
Credit Union 24 also reported that ATM savings achieved during the past six months members of credit unions participating in the fee-free network saved, on average, $110,000 per day or $3.3 million per month.