RANCHO CUCAMONGA, Calif.- CO-OP Financial Services this morning said it has reached an agreement with the SHAZAM Network to allow members of participating credit unions to access surcharge-free and shared deposit ATMs nationwide. Like CO-OP Network, SHAZAM's Network of ATMs provides surcharge-free access for cardholders of financial institutions who participate in its Privileged Status program.
"This agreement provides for a significant expansion of convenient access to accounts for members of credit unions in the SHAZAM Network," said Stan Hollen, President/CEO, CO-OP. "The credit unions can build stronger ties to their members, as they can continue to be there for their members virtually everywhere — whether they are traveling a few miles from home or across the country."
Like CO-OP Network, SHAZAM's Network of ATMs provides surcharge-free access for cardholders of financial institutions who participate in its Privileged Status program. The agreement was facilitated by The Members Group (TMG), Des Moines, Iowa, a business partner to both CO-OP and SHAZAM. In January TMG and CO-OP formed a strategic partnership, which included a strategic investment by CO-OP in TMG.
"CO-OP and SHAZAM share the same focus and commitment to delivering more convenience and cost savings for our members," said Dan Kramer, SVP, Marketing and Merchant Services with SHAZAM in a released statement. "This new alliance allows us to continue to realize our vision of open access and also paves new inroads to allow our financial institution partners to compete more effectively and profitably."