CO-OP Financial Services on Thursday said it reached an agreement with FCTI, Inc., a nationwide ATM network and service provider, that ensures approximately 8,000 ATMs located in 7-Eleven stores nationwide will continue to be a part of the CO-OP ATM network.
In July 2015, 7-Eleven, Inc., said FCTI would be its new ATM provider. The multi-year agreement between FCTI and Rancho Cucamonga, Calif.-based CO-OP Financial Services keeps the CO-OP ATM network in 7-Eleven stores, with the transition to FCTI operated-ATMs taking place during 2017.
“FCTI has been a long-term partner of CO-OP, dating back to 2004,” Todd Clark, president and CEO of CO-OP Financial Services, said in a statement. “This agreement continues to enable millions of surcharge-free transactions for members of participating credit unions every year, so members can conveniently avoid being charged. The CO-OP ATM network remains the largest credit union-only ATM network, larger than any single commercial bank fleet, at 30,000 machines.
“We look forward to working with FCTI, especially during the transition period, to make sure the switch to FCTI machines is done without access interruption to members,” Clark added.
CO-OP said its partnership with FCTI will bring additional locations into the network from the approximately 5,000 terminals currently owned and operated by FCTI.
“CO-OP ATM is the key to convenient, surcharge-free access to accounts for credit union members, and we are delighted that this service will continue at 7-Eleven stores through FCTI machines,” said Jeffrey Wernecke, Co-CEO of FCTI. “The enhanced security features of our machines will be a particular benefit to credit union members, in this era of heightened concern over identity theft and other forms of fraud.”