News

Credit union network grows 35% since '04

May 9, 2005

TALLAHASSEE, Fla. - The Credit Union 24 Network hit record-setting growth figures for 2004, according to a news release. New participants and expanded cardholder access boosted transaction volumes approximately 35 percent from the previous year.

While solid increases in ATM terminals and POS locations have broadened Credit Union 24's national footprint, in 2004 29 new credit union network participants brought with them a substantial number of new cardholders.

Credit Union 24 increased the number of ATM locations on the network from 28,000 to more than 65,000 in 2004. Much of that growth is attributed to a record year in credit union membership and a more than 35 percent surge in POS activity.

"I'm very proud of the growth we've achieved to date - the results show in our transaction volume, but it really starts with the number of credit unions that have chosen to join our EFT community," Credit Union 24 president and chief executive Jim Park said. "Our recent successes validate our strategy of maximizing revenue for our credit union members by capturing more and more cardholder transactions."

In 2004, Credit Union 24 paid out more than $3.5 million in additional revenue to credit unions through the "Platinum POS Rewards" program.

The Credit Union 24 Network has 23 processor links, hundreds of thousands of POS terminals and more than 85,000 ATM locations across the country.