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Co-op Financial Services yesterday signed a multiyear agreement to process debit and ATM transactions for Open Technology Solutions, a Centennial, Colo.-based partnership of four credit unions. Under the deal, Rancho Cucamonga, Calif.-based Co-op would process 5 million PIN-debit and ATM transactions monthly. Co-op also would manage Open Technology's signature-debit card and provide online fraud monitoring of the credit unions' payment systems. The credit unions' members also would have access to Co-op's network of more than 25,000 surcharge-free ATMs and 9,000 deposit-taking ATMs. The institutions that own Open Technology are Denver-based Bellco Credit Union; Bethpage, N.Y.-based Bethpage Federal Credit Union; Beaverton, Ore.-based First Tech Credit Union; and Linthicum, Md.-based Service Employees Credit Union of Maryland. The credit unions manage $8 billion in combined assets, Co-op says.
