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Velera’s Co-op ATM Network Grows With Addition of cPort Credit Union

Maine-based cPort Credit Union has joined the Co-op ATM network offered by Velera, the payments credit union service organization (CUSO) formerly known as PSCU/Co-op Solutions.

With the credit union joining the ATM network, cPort members will have access to more than 180 fee-free ATMs in Maine and 32,000 such ATMs nationwide, Velera said in a Tuesday (May 21) press release emailed to PYMNTS.

CPort will go live with its network participation in the fall, according to the release.

“Joining Co-op ATM is a tremendous convenience for our members, who can now access a surcharge-free machine throughout the state — indeed, throughout the country,” Jennifer Bouchard, vice president of branch operations for cPort, said in the release. “Being a part of the network, our own ATMs are now available to members of other participating credit unions — it’s a true display of the collaborative spirit of the credit union movement.”

CPort serves more than 30,000 members in Maine’s southernmost counties and has five branches in Portland, Augusta and Scarborough, per the release.

The Co-op ATM network includes nearly 7,500 deposit-taking ATMs and 2,000 participating credit unions, the release said. It also includes locator services, including the website: https://co-opcreditunions.org/locator.

“Co-op ATM is the largest credit union-owned ATM network in the U.S., with more than 32,000 machines available nationwide for surcharge-free access by credit union members,” Brian Scott, executive vice president, chief growth officer at Velera, said in the release. “The continuous addition of new ATMs to the network increases its value as a service to members.”

The rebranding of PSCU/Co-op Solutions as Velera was announced May 7, with the CUSO saying the new brand will be rolled out in phases over the next year.

However, the Co-op Solutions brand will be retained for its ATM network and Shared Branching consumer-facing solutions.

The rebranding came about four months after PSCU and Co-op Solutions said they closed their agreement to combine. As of Jan. 2, the two CUSOs integrated under a holding company.

It was reported in March that two of the drivers of demand for ATMs are workers who receive tips and like to use the machines to get that cash into their accounts and people who tend to use cash for payments that are made in person and total less than $25.