Co-op Network To Expand EFT Presence Overseas

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The CO-OP Network, the largest credit union-owned electronic funds transfer (EFT) network, has embarked on its first overseas initiative under which it will route ATM transactions for USA FCU at the credit union's branch on a Navy base in Osaka, Japan.

The San Diego-based credit union is installing one ATM on the U.S. military facility. Bob Rose, president of the CO-OP, told shareholders at the network's recent annual meeting in Las Vegas the network may look for opportunities elsewhere overseas. "CO-OP Network is poised to enter a new era," said Rose. "I pledge to our members that the vast majority of our expansion plans will always remain focused on broadening our ATM and credit union presence in the U.S. But, as technologies evolve, new parts of the globe beckon."

CO-OP may also pursue opportunities in Mexico and additional ones in Canada because of the countries' proximity to the U.S.

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