CO-OP Network Re-Ups With eFunds

PHOENIX – CO-OP Network, the nation’s largest credit union-owned, surcharge-free ATM network has decided to renew its relationship with eFunds, the Phoenix-based transaction processor. The Arizona firm has processed transactions for CO-OP Network member ATMs for 15 years, according to Rob Myhre, vice president for processing for eFunds. “When CO-OP Network started processing with us 15 years ago, both eFunds and the Network were very small. Now CO-OP Network offers access and services big enough to rival the largest banks,” Myhre said. The two firms’ relationship includes processing ATM transactions for 800 of 1,200 CO-OP Network members and the co-branding of an additional 8,000 eFunds’ machines that are deployed under the “Access Cash” logo. The additional 400 CO-OP members process with other firms because of processing contracts they had with other firms before they became CO-OP members, Myhre said. Both firms are committed to continue their work of including currency conversion technology for transactions overseas. “Since our inception 22 years ago, we’ve successfully grown our business into a nationwide network, today offering 14 million cardholders surcharge-free ATM access in 50 states, six Canadian provinces and beyond,” said CO-OP CEO Bob Rose.