Co-Op, 7-Eleven ATM deal gets thumbs up from credit unions

Co-Op, 7-Eleven ATM deal gets thumbs up from credit unions
Tags: Bank / Credit Union, EFT Networks, North America, Other, Retail / Off-Premises, Transaction Processing, Trends / Statistics
August 15, 2007

RANCHO CUCAMONGA, Calif. - Since partnering with 7-Eleven Inc. in November 2005, Co-Op Financial Services says its network of 25,000 surcharge-free ATMs has saved participating credit-union members nearly $50 million in surcharges at 7-Eleven ATMs.

Since November, surcharge-free transactions at 7-Eleven's 5,500 Co-Op participating ATMs have increased to 2 million per month.

"We had 800,000 transactions at 7-Eleven ATMs during the first month of our partnership, and the numbers have grown steadily as more of our member cardholders discover they don't have to pay a surcharge at 7-Eleven machines," said Stan Hollen, Co-Op's president and chief executive.