DALLAS, Nov. 17, 2005—CO-OP Network, the nation's largest credit union network of surcharge-free ATMs, and 7-Eleven, Inc., have reached an agreement to provide ATM access for Network members in 7-Eleven stores across the United States. Approximately 5,300 7-Eleven stores in 30 states will offer surcharge-free ATM access to 24 million credit union cardholders carrying the Network logo beginning Dec. 1.
"Driving new customers to our stores will be one of the primary benefits of this relationship," said Rick Updyke, 7-Eleven's vice president of business development. "7-Eleven's convenient locations will provide millions of CO-OP Network credit union members with greater access to surcharge-free ATM services."
CO-OP Network consists of 1,848 member credit unions with a combined total of 24 million cardholders. These credit union members currently have surcharge-free access to 25,000 Network ATM terminals across 50 states and throughout Canada at credit union branches, airports, supermarkets and convenience stores.
"CO-OP Network's goal is to recommend using ATMs in well-lit, high-traffic areas, which makes 7-Eleven a great partner for us," says Stan Hollen, CO-OP Network CEO. "7-Eleven, with its well-recognized brand and broad store coverage in the United States, will provide an ideal complement to our existing ATM locations.
"Since 2000, CO-OP Network ATM access has grown by more than 500 percent," added Hollen. "With more ATMs where our members live, work and shop, credit unions are providing a convenient way to compete nationally with larger financial institutions."
About 7 Eleven, Inc.
7 Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Headquartered in Dallas, Texas, 7-Eleven, Inc. operates or franchises approximately 5,800 7-Eleven® stores in the United States and Canada and licenses more than 23,200 7-Eleven stores in 17 other countries and U.S. territories. During 2004, 7-Eleven stores worldwide generated total sales of approximately $41 billion. Find out more online at www.7-Eleven.com.
About CO-OP Network
CO-OP Network (www.co-opnetwork.org), established in 1981, is wholly-owned by its credit union shareholders and provides volume discounts on products and services that include risk management as well as debit and deposit access. With 1,848 credit union members, 25,000 surcharge-free ATMs, 92 million-plus monthly transactions and 24 million cardholders, CO-OP Network is the No. 1 credit union electronic funds transfer network in the U.S. financial services industry. CO-OP Network, whose membership has access to over 800,000 ATMs worldwide through links to NYCE, STAR, Cirrus, Pulse and Plus, also offers national shared branch services via its subsidiary, Service Centers Corporation, based in Southfield, Mich.
About Technology Credit Union
Technology Credit Union is a member-owned, full-service financial provider that offers services to technology and business professionals in California and their families, focusing primarily on serving individuals who work, live, go to school, or regularly worship in Santa Clara, Alameda, San Mateo, Santa Cruz, San Francisco and Contra Costa counties. Tech CU was started in 1960 and is now among the top 1% of the nation’s largest credit unions. With more than $1 billion in assets, and seven full-service branches in the Bay Area, Tech CU is a leader in the credit union industry.
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