STRATEGIC PARTNERS
October 7, 2002
ONTARIO, Calif. -- CO-OP Network, the largest credit union EFT network in the U.S. with 1,200 members, has signed a membership agreement with its first Canadian credit union, The Civil Service Co-operative Credit Society (CS CO-OP) located in the province of Ontario.
Under the agreement, CS CO-OP will receive volume discounts on products and services including risk management, as well as debit and deposit access. CS CO-OP cardholders also will receive surcharge-free access to nearly 15,000 ATMs in the U.S. and Canada.
CO-OP Network In 2001 made its initial entry into Canada through an agreement with ISO Access Cash that placed more than 1,000 ATMs in the Quebec and Ontario provinces under the network umbrella.
"CO-OP Network has entered a new era where we're seeking to broaden our expansion inside and outside the United States," said CO-OP Network president and chief executive officer Robert Rose in a news release.
According to the release, one of CO-OP Network's growing markets is in the southern U.S., an area where a number of Canadian cardholders travel during the winter.
Founded in 1908, CS CO-OP, based in Ottawa, has $1.1 billion in assets, 74 ATMs, 18 branches and 150,000 members.
Established in 1981, CO-OP Network has 60 million monthly transactions and 11 million cardholders. It also offers national shared branch services through its subsidiary, Service Centers Corporation, based in Southfield, Mich.
