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CO-OP Signs Municipal

NEW YORK - The $1.2 billion credit union that had to prosecute some members to recover funds they had stolen from its ATMs in the wake of the September 11 attacks has joined the CO-OP Network. Almost a year after the September 11 attacks, the Municipal Credit Union, headquartered in...

By Staff Writer | Updated on August 10, 2004

NEW YORK – The $1.2 billion credit union that had to prosecute some members to recover funds they had stolen from its ATMs in the wake of the September 11 attacks has joined the CO-OP Network. Almost a year after the September 11 attacks, the Municipal Credit Union, headquartered in New York, had almost $15 million stolen from its ATMs after members overdrew their accounts through the machines. The credit union recovered virtually all of the money but, in the end, had to enlist a prosecutor to help do so. Now Municipal looks forward to having its members able to use one of CO-OP’s 19,000 machines nationwide, with 500 in the New York area, without having to face fees. “One priority is to help our membership find ATMs where they won’t be charged for the transaction,” said Municipal CEO William Porter. “MCU is growing every year, and that’s why it made so much sense to join CO-OP Network. Our members deserve free access to their money at as many locations as we can supply.”

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