HERNDON, Va. -- Stephen Cole, longtime president and chief executive of Cash Station, Inc., the largest electronic banking company in the Midwest from 1985 until its August 2000 sale to Concord EFS, is the 2002 recipient of the Electronic Funds Transfer Association's (EFTA's) Robert A. Mooney Award for Lifetime Achievement.
EFTA executive director Kurt Helwig and EFTA chairman Dale Dentlinger, also director of E*Trade Access, will present the award at the Association's annual Mooney Award Reception on Nov. 5 in Atlanta.
Cole served as EFTA chairman in 1991-1992 after having headed the association's Card Council and ATM Security Task Force in the mid-1980s. He was also an active participant in EFTA's Network Executives Council.
In a news release, Dentlinger called Cole "a giant in the regional EFT network movement," saying, "From the beginning, he had the vision of the model on which all shared networks now operate -- combining traditional network activities with processing services. And, he brought that model to life at Cash Station first."
Helwig said in the release that Cole's greatest legacy the interest he took in the lives of everyone he met, including employees, customers and associates. "He brought caring, passion and humor to a tough, competitive business," Helwig said. "As a result, everyone thinks of Steve as a friend."
The Mooney Award is presented annually to an individual who has shown outstanding leadership and service to the advancement of the electronic funds transfer (EFT) industry and its issues. It is given in honor of the late "Bob" Mooney, president of JCPenny Business Services from 1983-1992 and EFTA chairman in 1981. Mooney passed away in October 1992.
Cole is now president and chief executive of the YMCA of Metropolitan Chicago, one of the largest YMCA associations in the world. He leads and manages of the association, which is comprised of 31 centers and camps in three states.
Earlier in his business career, he spent 14 years at First National Bank of Chicago (now Bank One), where he was vice president and division head of the Electronic Banking Services Division.
Always active in civic and philanthropic activities, Cole serves on the Board of Trustees of Lake Forest College, his alma mater. Prior to being named president and chief executive of the YMCA of Metropolitan Chicago, he served as a member of its Board of Managers and Executive Committee for six years. He has been a member of the Boards of the Chicago Area Boy Scouts, The Anixter Center and the Heartland Institute.
Past recipients of the Mooney Award include: Robert P. Barone, former vice chairman, Diebold; D. Dale Browning, founder of PLUS System; John F. Fisher, former senior vice president, BancOne; Alex "Pete" Hart, former CEO, MasterCard International and Advanta; Richard P. Yanak, former president and CEO, NYCE Corporation and Yankee 24; David A. O'Connor, former president and CEO, MOST; Tom Bennion, former president and CEO, Honor; and Al Irato, vice chairman, Hypercom Board of Directors.
