News

Three credit unions expand ATM access by joining Co-op Financial Services

July 26, 2010

Three credit unions in Oregon and Washington have expanded their members’ surcharge-free ATM access throughout the Pacific Northwest and across the country by joining Co-op Financial Services.
Pacific Spruce Federal Credit Union in Toledo, Ore.; Valley Credit Union in Salem, Ore.; and Community Healthcare Federal Credit Union in Everett, Wash., announced Monday their memberships in Co-op Financial Services, which is based in Rancho Cucamonga, Calif.

The association with Co-op means the credit unions’ members will have access to 700 ATMs in Oregon, including 400 deposit-taking machines. They also will have access to 1,000 ATMs in Washington, including 600 deposit-taking machines, said Bill Prichard, a Co-op spokesperson.  The credit unions’ members also can withdraw funds from Co-op’s 28,000 ATMs nationwide surcharge-free, Prichard said.

The ATMs are located in credit unions and retail locations, including 7-Eleven Inc. and Costco Wholesale Corp. stores.  Cardtronics Inc., the world’s largest non-bank operator of ATMs, owns the machines deployed in 7-Eleven and Costco. Co-op signed a contract with Houston-based Cardtronics to provide surcharge-free ATM access to Co-op member financial institutions.

Christopher Monti, Valley Credit Union’s chief financial officer, said expanded surcharge-free ATM access will help ensure existing members remain with the financial institution.

“We have been live since May 5 and the partnership has worked very successfully, allowing us to provide the service conveniences sought by our members and ensuring we remain their primary financial institution,” Monti said.

The expanded ATM locations offer customer convenience, and they act as a lure to potential new credit union members, a Co-op executive said.

“With more ATM locations, particularly deposit-taking, credit union checking accounts become more attractive to existing and potential members,” said Ritch Ellis, the organization’s vice president of sales.