TALLAHASSEE, Fla. (7/27/12)--Credit Union 24, a credit union-owned ATM and point-of-sale (POS) network, said its popular surcharge-free ATM programs have collectively saved credit union members more than $20 million in ATM surcharge fees during the first six months of 2012.
"Consumers require--and always will--fee-free access to their cash, and only within the credit union movement can consumers find the largest surcharge-free ATM access," said Jim Park, Credit Union 24 president/CEO. "Providing this widespread, surcharge-free ATM access is possible because of our network's collaborative business model."
Forty-two percent of credit unions polled in Credit Union 24's 4th annual Credit Union Industry Survey, which was conducted in the spring, cited an increased use of ATMs among their membership in the past year. This continues a trend of nearly half of credit unions reporting an increased use of ATMs among credit union members nationwide.
Further analysis of the ATM savings achieved during the past six months illustrates that Credit Union 24's participating credit unions' members are saving, on average, $3.3 million per month and $110,000 per day.