Credit Union 24, MoneyPass Announce Reciprocal Alliance.
As part of the alliance, Genpass' MoneyMaker and Money Belt financial institutions will be able to offer their customers access to CU24's Member Access Atlantic ATM/POS Network. CU24's Member Access Atlantic (MAA) is a coast-to-coast, cooperative EFT network open to regional networks, credit union leagues and service organizations nationwide. With Genpass' nationwide ATM coverage, Member Access Atlantic offers cardholders access to tens of thousands of ATMs, plus hundreds of thousands of POS locations throughout the country.
"Credit Union 24 carefully considered our options in selecting a partner," said Jim Park, president and CEO of CU24. "We selected Genpass because they understand the credit union community and the needs of our members. What's more, we're excited about the millions of dollars we will be able to save our members' cardholders in surcharge fees every year," stated Park.
"Credit Union 24 holds the same values as we do as an organization," stated Douglas D. Anderson, president of MoneyPass, "We both continually seek ways to add value for our members and customers." Anderson continued, "We believe that this alliance once again proves the universal value that Genpass and the MoneyPass surcharge-free network brings to credit unions."
About CU 24
Credit Union 24 is a strong, flexible, member-owned, full-service ATM and POS network that offers ancillary electronic funds transfer (EFT) products, with 23 EFT processor links, hundreds of thousands of POS terminals -- many with cash-back capabilities -- and more than 65,000 ATM locations throughout the United States and abroad. Founded in 1981, The Credit Union 24(R) Network -- a strong, growing and independent vehicle through which participants control their own EFT pricing while maintaining ATM and POS access to credit union members -- is the largest credit union-owned POS network in the country, and is headquartered in Tallahassee, Florida. For more information about Credit Union 24, Inc., visit www.cu24.com.
About Genpass Inc.
Genpass, Inc., with headquarters in Pennsylvania, is a leading provider of PayCards. Genpass also manages the MoneyPass(R) EFT network through its Irving, Texas-based subsidiary Genpass Technologies(R), LLC. Genpass Technologies, which drives ATMs and processes cards in all 50 states, is listed in ATM and Debit Card News (July 25, 2003) as the second-largest third-party ATM driver in the U.S. and in The EFT Data Book (2003 edition) as one of the largest transaction processors in the U.S., driving approximately 31,000 ATMs located throughout the country. Genpass processes over 360 million transactions annually. Genpass is the only top processor to offer a vertically integrated product suite that includes every aspect of ATM driving, transaction processing, debit card and specialty card services, plus ATM maintenance and supplies from a single source. To find out more about Genpass and/or MoneyPass, visit www.Genpass.com and www.MoneyPass.com.
About GTCR Golder Rauner, LLC
GTCR Golder Rauner, LLC, a leading private equity investment firm, owns and operates Genpass Inc., the parent company of Genpass Technologies, LLC, and its subsidiaries. GTCR currently manages more than $6 billion in equity capital invested in companies providing transaction processing, information technology services, financial services and marketing services.
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|Date:||Nov 18, 2004|
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