Cardtronics and Co-op Financial Services renew 7-Eleven ATM contract

Source: Cardtronics

ATMs in 7-Eleven stores across the country will continue to be part of the Co-op Network for at least five more years, based on the contract renewal announced by Co-op Financial Services and Cardtronics, Inc., the operator of the retail ATMs.

More than 3.2 million surcharge-free CO-OP Network transactions per month take place at 7-Eleven stores.

"The key to credit union membership growth is making access to accounts easy and convenient," said Stan Hollen, President/CEO of CO-OP Financial Services. "7-Eleven is a large chain store, so having CO-OP Network in these locations is a great benefit that our credit unions can offer to their members, and an important competitive edge among financial institutions."

Rick Updyke, President, Global Development at Cardtronics, said, "CO-OP has been a strong partner for Cardtronics and 7-Eleven. Continuing our relationship provides substantial benefits to all parties. CO-OP Network drives a significant amount of transaction volume for Cardtronics' 7-Eleven ATMs while providing convenient cash availability for millions of consumers."

CO-OP Network has been available on the ATMs in 7-Eleven stores since November 2005. The new agreement is for five-years, so the CO-OP Network will continue to be available at 7-Eleven, Inc.'s stores with ATMs through July 2014.

CO-OP Network comprises 28,000 ATMs throughout the United States, offering credit union members surcharge-free access to their checking and savings accounts. Approximately 5,500 ATMs in 7-Eleven stores are covered under the contract renewal, about 2,200 of which are deposit taking. In addition, about 340 ATMs in Costco membership warehouses and about 670 ATMs in Walgreens drug stores also are covered under the agreement with Cardtronics.

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