WILMINGTON, Del., Oct. 23 /PRNewswire/ -- Cloquet Co-Op Credit Union,
headquartered in Cloquet, Minnesota, has signed an agreement to participate in
the MAC(R) EFT network.  Cloquet Co-Op has 5 ATMs and 5,100 cardholders.  The
MAC network, which is operated by MONEY ACCESS SERVICE INC., a subsidiary of
Electronic Payment Services, Inc. (EPS), has added 140 new members so far this
year, half of which have been credit unions.
    Cloquet Co-Op will participate in the network beginning in February 1997,
when the conversion of their ATMs to the EPS platform is expected to be
complete.  EPS will provide terminal driving for Cloquet's ATMs and advanced
self-service terminals, as well as processing for off-line debit cards.
Cloquet Co-Op CU has assets approaching $117 million and averages 9,300 ATM
transactions per month.
    Electronic Payment Services, Inc. (EPS), a privately held company
headquartered in Wilmington, Del., is the leading electronic funds transfer
(EFT) processor in the United States, with almost 2 billion transactions
annually.  EPS is the holding company for MONEY ACCESS SERVICE INC., an EFT
processor driving over 13,700 ATMs nationwide.  The MAC(R) EFT network is the
largest EFT network in the United States based on 1.2 billion switch
transactions annually, with 22,500 ATMs in 45 states.  2,043 financial
institutions are members of the MAC network, with 36 million customers
carrying cards bearing the MAC logo.  MONEY ACCESS SERVICE INC. controls the
license rights for the registered trademark MAC.
    Cloquet Co-Op Credit Union is headquartered in Cloquet, Minnesota.  It was
state chartered in 1936.  They operate four branches in Minnesota which are
located in the cities of Aitkin, Duluth, and McGregor.  With assets
approaching $117 million, they are the 13th largest credit union in the State
of Minnesota.  They currently have just under 32,000 members and 94 employees.

Link to this page: