SOURCE: Select-A-Branch

June 18, 2008 09:00 ET

US Postal Service Federal Credit Union Outsources ATM Locations to Select-A-Branch ATM Network

Network Continues to Grow as More Financial Institutions Join S-A-B's Surcharge-Free Network and Outsource ATM Locations

KING Of PRUSSIA, PA--(Marketwire - June 18, 2008) - Select-A-Branch ATM Network ("S-A-B") announced that the US Postal Service Federal Credit Union ("USPS FCU") has outsourced five branch ATM locations to S-A-B. In addition, USPS FCU has now joined the S-A-B Network, providing branded, surcharge-free transactions to its own card holders.

S-A-B ATMs are equipped with the company's patent-pending software, which allows multiple financial institutions to deliver branded transactions through each S-A-B ATM. When the card holder of a participating institution swipes their card at any S-A-B ATM, they are instantly presented with transaction screens branded with the logo, colors and marketing messages of that particular institution. The surcharge is then shifted to the institution, resulting in a surcharge-free transaction to the card holder.

"Outsourcing our ATM offering was a big step for our organization," said Steve Cimino, USPS FCU EVP. "But the S-A-B model presented such a unique shift in the ATM business that it was a profitable step for us to take. And since USPS FCU screens remain branded in our look and feel, there is no confusion to our existing card holders."

Aside from S-A-B's standard customer service and brand extension benefits, providing outsourcing services to USPS FCU provides the credit union with the added benefit of eliminating ATM ownership and maintenance costs, which are now shouldered by S-A-B. And, since S-A-B participant banks and credit unions drive traffic to S-A-B locations, USPS FCU can expect to turn what has been traditionally known as a cost center into a profit center.

"Entering the outsourcing market is a logical step for both S-A-B and USPS FCU," commented Dan Gardner, S-A-B Chief Executive Officer. "The ATM member experience for USPS FCU card holders remains essentially the same, while card holders of other institutions now have an added incentive to do their ATM banking at USPS FCU locations."

"Banks and credit unions know that ATM services are key to customer retention," said Dan Stechow, S-A-B Chief Operating Officer. "Yet, as average ATM transaction volumes continue to slowly decline, those same organizations are finding the channel more and more costly to maintain. S-A-B offers those organizations a way to reduce costs, increase revenues and maintain -- or even improve -- the branding and marketing messages their card holders experience. We're already entertaining multiple outsourcing inquiries from other institutions. We see this as the tip of the iceberg."

S-A-B transactions are processed by Fiserv, a Fortune 500 company that provides processing services for over 3000 financial institutions. "Fiserv is very enthusiastic about the evolution of S-A-B," commented Tom Fox, VP of Sales for Fiserv's EFT division. "We believe that more and more institutions will look to outsource their ATM offerings over time, and S-A-B appears to have a superior model that provides benefits to customers, merchant locations and financial institutions alike."

S-A-B's USPS FCU locations are in the Washington DC/Baltimore area. For an up-to-the-minute list of participants and locations, please visit www.selectabranch.com.

About Select-A-Branch ATM Network

Select-A-Branch (S-A-B) is an ATM Network that provides wireless, digital-enabled ATM's located in high traffic merchant locations. S-A-B's patent-pending ATM software solution allows banks and credit unions to deliver branded, surcharge-free ATM transactions to any cardholder at any S-A-B ATM, resulting in increased patronage and customer satisfaction. Launched in 2006, S-A-B has offices in King of Prussia, PA. www.selectabranch.com

Contact Information

  • Contact:
    Cindy Golisch
    480/471-8820