RANCHO CUCAMONGA, Calif. – CO-OP Financial Services said yesterday its Next Generation ATM that will perform most of the transactions of a branch, including loan payments, is now available for credit unions.
CO-OP Financial and Diebold have developed the new application software, which allows members of participating CO-OP Shared Branching credit unions to conduct nearly all branch transactions, including loan payments, at Diebold Opteva ATMs. With CO-OP NextGen ATM, members can select a shared branching option to access all of their accounts with the credit union, not just those linked to the card as with standard ATM transactions.
While giving members more ways to manage their accounts at their convenience, the product promotes in-branch efficiency as staff is freed to concentrate on more complex revenue activities. CO-OP NextGen ATM also provides an additional source of acquirer interchange revenue for credit unions, as they may now extend shared branch transactions to the nearly 1,800 credit unions and 32 million members in the CO-OP Shared Branching network.
“CO-OP NextGen ATM gives credit unions the ability to optimize their ATM channel and capital expenditures by using their current ATM fleet to support traditional ATM transactions and shared branching transactions,” said Stan Hollen, president. “CO-OP is the first provider in the United States to offer this leading edge technology, that provides greater member convenience and expanded branch reach, without brick and mortar, 24/7, 365 days a year.”