The CO-OP Gets An ENCORE
ONTARIO, Calif. - (03/28/06) -- The CO-OP Network announced Mondayit has agreed to merge with ENCORE Electronic Services, aWashington, D.C., area shared-branching and ATM network for creditunions. ENCORE, based in Falls Church, Va., is owned by 124 creditunions and has 13 shared branches and 320 ATMs. Tom Reed, presidentof ENCORE, said the merger will benefit network members by loweringcosts and transaction fees. The addition of ENCORE's 10 milliontransactions a month should benefit CO-OP by helping reduce itstransaction costs, he said. It brings down the CO-OP's ratesbecause of the larger volume, he told The Credit Union Journal.Both networks use the same switch processed by eFunds.