CO-OP Financial Services told member credit unions that 7-Eleven Inc.'s decision to no longer host Cardtronic's ATMs past July 2017 will affect its current arrangement with 7-Eleven Inc. to provide surcharge-free ATM locations.
"It is CO-OP's intention to establish a formal relationship with the new 7-Eleven ATM processor as soon as possible to begin the planning process to provide credit union members uninterrupted access to ATMs in these locations," the payments CUSO wrote to client credit unions in an email dated July 8. "CO-OP will also work to continue deposit taking and shared branch access."
The CUSO did not say how many ATM locations might have to be negotiated, but 7-Eleven Inc.'s website reported the firm operates 1,400 of the 7,800 branded 7-Eleven stores nationwide.
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"Changes in business are, of course, not uncommon. This is an eventuality that is not taking us by surprise and we have been preparing for a year for this scenario. We will keep our member credit unions informed as we work through this process," CO-OP said.
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