RANCHO CUCAMONGA, Calif. (Filed 1:15 p.m. CT 8/15/12)--CO-OP Financial Services is introducing CO-OP Network PIN POS service powered by First Data, through which debit cardholders of participating credit unions can access nearly two million STAR Network point-of-sale locations nationwide.
"CO-OP has considered offering PIN POS for many years, but only now have the right circumstances come together," said Stan Hollen, CO-OP Financial Services president/CEO. "In cooperation with First Data's STAR Network, our business partner for nearly 30 years, CO-OP can provide our clients with unmatched national PIN POS coverage and value."
CO-OP Financial Services has also signed a contract renewal extending its electronic funds transfer network access agreement with the STAR Network.
CO-OP Network PIN POS service offers nationwide coverage that gives credit union members the convenience of being able to use their debit card where they want to, and strengthens credit union relationships with members, especially those accustomed to big bank accessibility, said the company.
The agreement also means greater choice in payment method, easier access to money and superior PIN debit fraud protection. The added POS revenue stream benefits all participating
CO-OP members and, in the case of CO-OP shareholding credit unions, the POS transaction volume will also increase annual patronage (dividend) opportunity.
CO-OP Financial Services expects to begin implementing the extended PIN POS service with existing clients beginning Oct. 15.