Do Credit Unions Have ATMs and Where To Find Them
Discover how credit unions provide convenient ATM access, including vast shared networks, and learn how to manage fees effectively.
Credit unions, as member-owned financial institutions, offer a comprehensive range of banking services, including access to Automated Teller Machines (ATMs). Understanding how credit unions provide ATM access, especially beyond their immediate branch locations, clarifies misconceptions and highlights the convenience they offer. This overview details the various avenues available for managing funds.
Credit Union ATM Access
Credit unions maintain their own network of ATMs, typically located at their physical branch locations. These ATMs allow members to conduct various transactions directly with their credit union. Some credit unions may also operate off-site ATMs in strategic locations to enhance member convenience.
These proprietary ATMs generally offer a full suite of services without incurring any fees from the credit union itself. Members can find these machines available during and outside of regular business hours. Locating a credit union’s own ATM usually involves checking their official website or mobile application for a branch and ATM locator.
Utilizing Shared ATM Networks
A significant advantage for credit union members is access to extensive shared ATM networks. These cooperative networks allow members to use ATMs owned by other participating credit unions and some retail locations without incurring a direct fee from the ATM operator. Prominent examples include the CO-OP Network and Allpoint.
The CO-OP Network provides access to over 30,000 surcharge-free ATMs nationwide, including locations at credit unions and various retail stores like 7-Eleven, Costco, and Walgreens. Allpoint boasts over 55,000 surcharge-free ATMs globally, found in major retailers like Target, CVS Pharmacy, and Walgreens. Many credit unions also participate in networks like MoneyPass. Members can find these shared ATMs through mobile apps, online locators, or by texting their zip code to a designated number.
Understanding ATM Fees and Services
When using an ATM, members may encounter two types of fees: a surcharge from the ATM operator and a foreign ATM transaction fee from their own financial institution. The average total fee for using an out-of-network ATM is approximately $4.77. However, utilizing ATMs within a credit union’s own network or a participating shared network, such as CO-OP or Allpoint, typically allows members to avoid these surcharges. Some credit unions may also offer reimbursements for out-of-network ATM fees, often with specific conditions.
Credit union ATMs generally offer a broad range of services beyond simple cash withdrawals. Members can typically deposit cash and checks, check account balances, and transfer funds between linked accounts. Some advanced ATMs, particularly within shared networks like Allpoint+, also facilitate cash deposits. For cash deposits, machines usually accept bills without an envelope, often counting them automatically. Check deposits may require specific orientation but also often do not need an envelope.