SEATTLE - Seattle-based Pemco Technology Services Inc. has signed a deal with KeyCorp to market Key's agent bank program to its customer credit unions and banks.
According to a report in the Seattle Post Intelligencer, Pemco Technology provides credit card and ATM processing services to more than 240 financial institutions, mostly credit unions, around the country.
"Although no agreements have been signed yet, "We've got customers asking for this," said Diane Noasconi, Pemco's communications coordinator, in the Post Intelligencer report.
The lack of fee-free access to an extensive ATM network is "one of the things that have held back credit unions a little bit," Noasconi said.
Through Key's agent bank program, FIs provide their customers and members surcharge-free or surcharge-reduced access to Key's ATM network. Institutions can access any or all of Key's network of 2,200 ATMs across the country, including 716 located in ARCO am/pm retail locations along the West Coast.
Key operates 135 branches and 296 ATMs in Washington and recently signed a deal to acquire 12-branch EverTrust Financial Group in Everett.
The deal with Pemco gives Key immediate contact with hundreds of institutions it would otherwise have to contact individually. Key collects fees from institutions that participate in the program.
"Having Pemco as a reseller of our agent bank program adds additional credibility to our service and helps get the message out to smaller institutions that there is a great ATM program available to boost their customer service offerings," said Mona Juravic, regional sales manager at Key."We've already signed more than 100 agent bank partners and we look forward to working with Pemco and providing our services to many more institutions."
Pemco Technology Services is part of an affiliated group of companies that includes Pemco Insurance, School Employees Credit Union of Washington and Evergreen Bank.
