TALLAHASSEE, Fla. — Credit Union 24, the large credit union owned ATM and EFT network that is headquartered in Florida, said that there are indications that credit unions have begun to put a greater value on credit union ownership of their vendors and networks.
“When a consumer of an organization's product or service has an ownership interest in that organization, it stands to reason that the organization is compelled to act in the best interest of that consumer,” explained Jim Park, president and CEO of Credit Union 24. “That model is paramount to the success of the credit union movement.”
In a prepared statement Park contended that more credit unions are realizing this value in the wake of large corporate mergers and buy-outs that can work to undermine the ideals that credit unions have historically upheld.
“Despite some bold attempts by some of these new entities to woo larger institutions off of credit union-focused processors and networks, credit unions generally have held firm,” the statement said.
Credit Union 24 has signed 15 new credit unions to the network so far this year, including $1.5 billion Tower Federal Credit Union, and has seen transaction volumes increase by more than 16 percent over the same period last year.
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