Fidelity National information Services, Inc. (NYSE: FIS), which handles card processing for more than 5,000 credit unions, has entered into a partnership with CO-OP Financial Services that allows FIS to market and promote access to CO-OP Network as Fidelityâs primary source of access to surcharge-free ATMs.
With 100 million-plus monthly transactions and 24 million cardholders,
CO-OP Network, operated by CO-OP Financial Services, is the largest credit
union-owned electronic fund transfer (EFT) network in the U.S. CO-OP provides
nearly 2,000 credit union members with volume discounts on products and
services that include ATM network access, ATM processing, debit/card services
and shared branching.
âWe are pleased to be working with the largest credit union EFT network,â
said Tony Ficarra, executive vice president of FISâ e-Business Services. âThis
partnership will link more than half of all U.S. credit unions allowing
participating credit union members to use their cards surcharge free.â
By signing a cooperative arrangement, FIS credit union clients now have
the option to access CO-OPâs national and international network of more than
25,000 surcharge-free ATMs.
According to Stan Hollen, chief executive officer of CO-OP Financial
Services, âWe were seeking a solution that would simplify and satisfy the
demand to join our network. Our new partnership with FIS will provide a faster
acquisition rate as well as increase our network membership, volume and