CO-OP Network Plans ATM SalvageOperation

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ONTARIO, Calif. - (09/05/05) -- The CO-OP Network is expected toannounce an effort in conjunction with CUNA's CEO Roundtable asearly as Tuesday to gather used ATMs, point-of-sale and othernecessary payment machinery not in use to contribute to needy GulfCoast credit unions. CO-OP, the national credit union-ownedpayments network, would pay for the cost of transportation of anydonated equipment under plans for the salvage effort in the wake ofHurricane Katrina, according to Jim Hanisch, executive vicepresident of CO-OP. "It's very preliminary right now, but we'reworking with CUNA and the Roundtable to put together some kind ofprogram," Hanisch told The Credit Union Journal. Thousands of ATMsand point-of-sale machines have been destroyed by the flooding orother related incidents. Representatives with The CO-OP, PULSE EFT,NYCE and Fiserv all reported last week major outages at machinesconnected to their networks. Separately, The CO-OP also plans towaive all processing for credit unions in the affected areas for 90days, according to Hanisch.

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