ONTARIO, Calif. -- Member Access Illinois, a regional EFT network with 251 credit union members, 560,000 cardholders and 315 ATMs in 15 states, is the newest member of the CO-OP Network, the nation's largest credit union EFT network.
CO-OP Network, the nation's fourth-largest regional EFT network, consists of 791 member credit unions, nearly 12,000 ATMs in 49 states and nine million cardholders.
"We believe this will be an excellent partnership. One of MAI's prime objectives is to maximize the number of ATMs our credit unions' cardholders may utilize without paying a surcharge," said George Feigle, executive vice president and chief operating officer of the Illinois Credit Union League Service Corporation, operator of Member Access Illinois.
Feigle said that the two networks share similar philosophies. "Both networks are credit union focused, operate as cooperatives by providing annual year-end rebates and are interested in helping credit unions compete by providing them a better ATM program they can market to members," he said.
CO-OP Network currently has 122 ATMs in Illinois, including 18 that accept deposits from network members. By the end of February 2002, the number of CO-OP Network ATMs is expected to increase by an additional 800 terminals in Illinois as a result of an earlier agreement with Access Cash International. (See One great union.)
"Our entry into this agreement with Member Access Illinois is designed to strengthen our presence in the Midwest and provide greater access for our members," said CO-OP Network President and Chief Executive Officer Robert Rose."As CO-OP Network continues to expand its presence in North America, our goal is to explore all potential business options to maximize the membership's electronic access."
Established in 1981, CO-OP Network has more than 800 member credit unions and 12,000 ATMs located in 49 states, providing shared access for credit union members and their shareholders. CO-OP Network is wholly-owned by its credit union shareholders and provides volume discounts on products and services.
