RANCHO CUCAMONGA, Calif. - CO-OP Financial Services purchased a half-page ad in national editions of USA Today headlined, "Why Pay Banks $3? Get Your Cash For Free" (see ad, left). The $3 reference is to a recent increase by Bank of America in its ATM surcharge for non-customers. A subhead in the ad urges, Join Any of Nearly 2,000 CO-OP Network Member Credit Unions." Text in the ads tells readers that "with 25,000 surcharge-free ATMs found everywhere from coffee shops to airports, CO-OP Network has more ATMs than the two largest banks-combined."
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Text goes on to urge readers to "Experience the credit union difference with CO-OP Network and be part of the 26 million credit union members who have made the informed decision not to pay ATM surcharge fees...ever." CO-OP said it ran the ad in part because USA Today had earlier erroneously reported that Bank of America was the largest ATM network in the country.