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Allpoint Network Enhances Surcharge-Free Strategy for Connecticut Bank |
May 16, 2011 BETHESDA, MD - (May 16, 2011) – Allpoint Network, a Cardtronics, Inc. affiliate (NASDAQ: CATM) and operator of the largest surcharge-free ATM network, today announced that Stamford, Conn.-based First County Bank now participates in the Allpoint Network. With its Allpoint relationship, First County Bank complements its existing network of ATMs with unlimited fee-free cash-access transactions for its customers at Allpoint Network ATMs. First County Bank, with assets in excess of $1.3 billion, operates bank-owned ATMs at its 15 Connecticut branches. Building on its existing surcharge-free strategy, First County Bank gains the fixed-cost benefits of Allpoint Network participation while increasing fee-free ATM cash access for its customers, given the unlimited transaction structure of the Allpoint Network. Conveniently located Allpoint Network ATMs can be found in retailers such as 7-Eleven, Target and Walgreens, among others. "With the bank regulatory environment in a state of flux, First County Bank serves itself well to continue offering high-value customer services such as fee-free ATM cash access, and to do so while gaining a greater degree of cost-certainty for the program," said Rey Giallongo, president and chief operating officer, First County Bank. "Equally compelling to the bank, Allpoint Network ATMs saturate all the right retail locations here in Connecticut, meaning our customers are never far from surcharge-free cash access where they live, work and spend most of their time." "For our clients and for their customers, Allpoint Network presents a strong value proposition for financial institutions investigating alternate financial models around a surcharge-free ATM strategy," said Ben Psillas, president, Allpoint Network. "By aligning with Allpoint Network, First County Bank can benefit from Allpoint's economies of scale, while presenting its customers with ATM access in many of the merchants already central to their lives."
First County Bank, headquartered in Stamford, Conn., is an independent mutual community bank with 15 branches in Stamford, Greenwich, Darien, New Canaan, Norwalk and Westport offering deposit products, mortgages, trust and investment services, business banking services and online banking. First County Bank, which celebrates its 160th anniversary this year, has more than 200 employees and assets in excess of $1.3 billion. For additional information, please visit www.firstcountybank.com.
Allpoint is the largest surcharge-free ATM network with over 43,000 ATMs in leading national and regional merchant locations across the United States, Mexico, United Kingdom and Australia. Allpoint provides greater access, convenience and savings to customers of financial institutions while providing institutions the tools to compete more effectively for customers. For more information or to find the nearest Allpoint surcharge-free ATM, please visit www.AllpointNetwork.com.
Cardtronics (NASDAQ: CATM) is the world's largest non-bank owner of ATMs. The Company operates over 33,200 ATMs in the United States, the United Kingdom, Mexico, and the Caribbean, primarily with well-known retailers such as 7-Eleven®, Chevron®, Costco®, CVS/pharmacy®, ExxonMobil®, Hess®, Rite Aid®, Safeway®, Target®, and Walgreens®. Cardtronics also assists in the operation of approximately 4,000 ATMs under managed services contracts with customers such as Kroger®, Travelex®, and Circle K®. In addition to its retail ATM operations, the Company provides services to large and small banks, credit unions, and prepaid card issuers allowing them to place their brands on over 12,000 Cardtronics' ATMs and providing surcharge-free access through Cardtronics' Allpoint Network. For more information, visit www.cardtronics.com.
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