Co-Op, CU Anytime agree to joint ATM venture

Co-Op, CU Anytime agree to joint ATM venture
Tags: Bank / Credit Union, Bank Automation, Cash Dispenser / Recycler / Acceptor, Debit / Credit, Deposits / Check 21, EFT Networks, North America, Other, Transaction Processing, Trends / Statistics, Vault Cash / Cash Management
January 2, 2007

ONTARIO, Calif. - Albuquerque-based CU Anytime and Co-Op Financial Services, d.b.a. Co-Op Network, have formed a new organization called Co-Op ATM Services LLC.

According to a news release, the joint venture, set to debut April 1, will develop ATM management services for credit unions. The expected services include armored carrier, first- and second-line maintenance, ATM-purchasing placement and installation, and proofing, balancing and clearing ATM deposits through check imaging.

CU Anytime provides those services for its 168 ATMs. The new services set will be repackaged and expanded for an offering to all Co-Op members as well as other credit unions.

"We've been working with Co-Op management for more than a year to explore methods to expand our relationship," said Don Gray, CU Anytime's president. "I'm pleased to report the new agreement provides an opportunity to leverage our staff and service model to benefit more credit unions."