CU HERE Premium Frequently Asked Questions

Q: What will this cost my credit union?
A: There is no additional cost to your credit union for this program. Running an off-premise ATM is expensive, and surcharging is the primary form of revenue for ATM owners. However, so that credit union members can use those ATMs without paying a fee, Credit Union 24® will absorb the ATM owners’ lost surcharges.

Q: What is going to happen to the program after February 2009?
A: Credit Union 24® will defray the cost of offering these surcharge-free ATMs until February 2009. During that time, our participating credit unions will assess the value of offering 45,000 surcharge-free ATMs to their membership. If this program succeeds, and helps our credit unions serve and grow their memberships, our cooperative will likely decide to continue the program. In that case, Credit Union 24® will still be able to offer a cost savings, through volume discounts from Allpoint or by subsidizing a portion of the costs.

Q: How does the program work?
A: It’s just like any other Credit Union 24® CU HERE surcharge-free transaction. Your members can look for the CU HERE or Allpoint logo on the ATM, or can find nearby locations with Credit Union 24’s online ATM locator (www.cu24.com).

Q: How will I inform my members about this?
A: Credit Union 24® and Allpoint will be working closely together to develop marketing and informational materials for you to use to educate your members and your staff about the program.

Q: Who is eligible to join CU HERE Premium?
A: Any CU HERE-participating credit union can opt in to the CU HERE Premium program, but they must be routing transactions properly according to the Credit Union 24, Inc. Operating Rules for the program to function correctly.

Q: Why is Credit Union 24® doing this?
A: Credit Union 24® works purely in the best interests of our owners—our credit union network participants. Offering 45,000 surcharge-free ATMs to credit union members and potential credit union members serves that purpose, and helps credit unions be more competitive in their markets. Credit Union 24® is also empowering the credit union movement itself, by giving credit unions control and self-determination over a hot-button industry benefit.

Q: How much can people really save?
A: How about 4.2 billion dollars? That’s how much an independent survey reported that U.S. consumers spent on ATM surcharges in 2006. And that number is only going to increase in 2007. This year consumers will spend 4.4 billion in surcharge fees. It’s obvious why ATM fees are in the news, and why they’re so important to consumers.

Q: Since Credit Union 24® is picking up all the surcharges, won’t that cut into the value of my equity certificates?
A: No. The support for this program is from a special fund designed for future investments, acquisitions or R&D. This program will not affect the equity value that our shareholders have in our cooperative.