RANCHO CUCAMONGA, Calif. — Bank of America's recent decision to increase the fees on many of its ATMs could provide credit unions with still another opportunity to differentiate themselves with banks, according to an executive with CO-OP Financial Services, the parent CUSO of the credit union owned CO-OP Network of fee-free ATMs.
Jim Hanisch, executive vice president with CO-OP, pointed out that members of credit unions that use CO-OP have access to over 25,000 surcharge free ATMs around the country while Bank of America can only provide its customers with 17,000 ATM locations.
Hanisch further noted that 6,000 of the CO-OP locations accept deposits from members of CO-OP affiliated CUs, and that this did address the phenomenon of shared branching.
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