EFunds extends CO-OP network ATM branding contract
11 February 2004 | 667 views | 0
eFunds Corporation (NYSE: EFD), the leading provider of risk management, electronic payments, ATM and global outsourcing solutions, announced today the extension of its long- standing partnership with CO-OP Network, the largest credit union EFT network in the United States, with a multi-year ATM branding contract extension. Through expansion of its existing relationship of 7,000 locations, eFunds will continue to provide a customized and flexible ATM program enabling CO-OP Network to brand additional eFunds' ATMs and expand customer access points.
"Our solid, multi-channel partnership with eFunds allows us to extend the trust associated with the CO-OP Network brand," said Robert Rose, Chief Executive Officer of CO-OP Network. "By branding eFunds' ATMs, we have increased access points for our cardholders and extended our brand presence. eFunds continues to find creative ways to work with us to leverage our brand and meet customer needs."
The eFunds partnership gives CO-OP Network members the unique ability to capitalize on a tailored ATM branding program to expand their member touch points, allowing CO-OP Network cardholders access to their funds at over 7,000 eFunds ATMs. With over 17,000 ATMs, eFunds' branding program provides a cost- effective means for financial institutions to increase their number of branded ATM transactions and garner greater share of the total number of ATM transactions.
"Off-premise ATMs are increasingly important customer contact points for financial institutions but can be difficult to manage in a cost-efficient manner, especially for mid-sized financial institutions," said David McCrary, Vice President, National Sales, ATM Division, eFunds Corporation. "eFunds ultimately helps our customers expand their brand footprint and reach more customers while minimizing the operational costs traditionally associated with an ATM program. The fact that we are able to extend and enhance partnerships such as CO-OP Network is a testament to our unique ability to offer customers a program to meet their business needs."