North Carolina residents who are not members of the $23.7billion State Employees' Credit Union have long benefited from thesurcharge-free access to its ATMs, and the unemployed and childsupport beneficiaries have particularly gained from the access.
|The 1.7-million member Raleigh-based credit union has reportedthat its CashPoints ATM network saves both groups, together, over$8.4 million in ATM transaction fees annually.
|SECU referenced the state's unemployment rate that continues tohover around 10%, and reported that recipients of unemploymentbenefits rank top among non-member utilization of ATMs.
|In the past year these recipients, who receive their claimspayments via an Employment Security Commission debit card,performed more than 1.8 million transactions at SECUmachines.
|The no-surcharge SECU CashPoints network saved this user groupmore than $5.4 million. Child support recipients performed morethan 1 million transactions on the CashPoints network during 2011,as well, the credit union reported.
|“StateEmployees' Credit Union has always offered its no-surchargeCashPoints ATM network to benefit North Carolinians,” said LeannePhelps, SECU's senior vice president for card services.
|“A goal of our not-for-profit cooperative is to help keep moneyin the pockets of members, while also providing an overall economicbenefit to all citizens of our state. A no-surcharge benefit of$8.4 million to these groups in great need of support is doing justthat and we are delighted to be able to assist,” Phelps said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
