Thursday, June 14, 2018
HOUSTON, June 12, 2018 (GLOBE NEWSWIRE) -- Cardtronics (Nasdaq:CATM) today announced that PenFed Credit Union – America’s second-largest federal credit union, and serving over 1.7 million members worldwide – has selected Cardtronics as a worldwide outsourcing partner for PenFed branch and off-premise ATMs.
In an expansion of its ATM services relationship with PenFed established in 2013, Cardtronics now operates and manages a portfolio of more than 135 branch office and off-premise PenFed ATMs located in the United States, as well as on U.S. military bases in Guam, Puerto Rico, and Okinawa, Japan. Through this partnership, PenFed members will have access to industry-leading technology and multi-functional cash devices provided by Cardtronics.
PenFed first established an ATM services relationship with Cardtronics to expand surcharge-free ATM cash access for eligible PenFed members in the U.S. by branding Cardtronics retail ATMs to complement the service area of its branch ATM network. Under a long-term agreement, PenFed’s name and logo appears on ATMs located at more than 180 CVS Pharmacy, Rite Aid, Target and Walgreens locations concentrated in the eastern United States.
In 2015, PenFed joined the Allpoint surcharge-free ATM network, which offers 55,000 ATMs worldwide. Complementing and expanding upon the PenFed fleet of ATMs, the Allpoint surcharge-free ATM network provides PenFed members with widespread, surcharge-free access to cash at ATMs conveniently placed in premier retailer locations.
“Looking to Cardtronics as our ATM channel manager enables us to do more for our members, who want what all consumers want – convenient surcharge-free ATM access to cash even as they go digital in other areas of their PenFed relationship,” said Kevyn Myers, PenFed’s EVP, COO and President, M&A Integration and Payment Systems. “We are committed to providing PenFed members with superior financial services and digital convenience in a cost-effective manner. Entrusting the management of our global ATM network to Cardtronics, with its unique scale and channel expertise, is perfectly aligned with PenFed’s mission and purpose to take perfect care of our members.”
“In this era of digital transformation, the ATM channel is a critical self-service touch point for financial institutions, and increasingly important to member engagement and retention,” said Brian Bailey, Cardtronics Managing Director – North America. “As a specialist uniquely able to operate the ATM channel at scale, Cardtronics is enabling PenFed to redeploy capital, focus on transformative digital initiatives and continue offering ATM access that is second to none.”
About PenFed Credit Union
Established in 1935 as the War Department Credit Union, PenFed Credit Union is America’s second-largest federal credit union, serving over 1.7 million members worldwide with $23 billion in assets. Our long-standing mission has been to provide superior financial services in a cost-effective manner, while being responsive to members’ needs. PenFed Credit Union offers market-leading mortgages, automobile loans, credit cards, student loans, checking, certificates, and a wide range of other financial services with members’ interests always in mind. PenFed Credit Union serves a diverse population, and no military service is required to join. PenFed Credit Union offers many paths to membership, including numerous employee groups and association affiliations. PenFed Credit Union is federally insured by the NCUA and is an equal housing lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.
About Cardtronics (Nasdaq:CATM)
Making ATM cash access convenient where people shop, work, and live, Cardtronics is at the convergence of retailers, financial institutions, prepaid card programs, and the customers they share. Cardtronics provides services to approximately 230,000 ATMs in North America, Europe, Asia-Pacific, and Africa. Whether Cardtronics is driving foot traffic for top retailers, enhancing ATM brand presence for card issuers, or expanding card holders' surcharge-free cash access, Cardtronics is convenient access to cash, when and where consumers need it. Cardtronics is where cash meets commerce.
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