WOODCLIFF LAKE, N.J. -- Cherry Hill, N. J.-based Commerce Bancorp Inc. has joined the
NYCE Corporation banking network, strengthening NYCE's presence throughout New Jersey and augmenting the geographic reach that NYCE participants can deliver to their cardholders.Commerce Bank, the largest locally headquartered independent bank in the metropolitan Philadelphia area, has $8 billion in assets. It will add its 500,000 ATM/debit cards and nearly 200 ATMs in New Jersey, Pennsylvania and Delaware to the NYCE network. With NYCE, Commerce's cardholders will have greater access to thousands of NYCE ATMs throughout the Northeast and Midwest, as well as hundreds of thousands of NYCE POS locations nationwide.
"Participating in the NYCE Network will support our ATM/debit card program with sound pricing and service flexibility as we continue to grow," said Kevin Barry, vice president of Commerce Bank. "And, NYCE's strong presence in New York and New England will help us economically provide our customers with reliable, convenient access to their funds both where they live and where they travel."
Commerce Bancorp has 150 branches and specializes in providing banking, insurance, investment and public finance services. The company is working toward a total asset goal of $18 billion and a branch network of 300 offices by the year 2005. The bank plans to add 30 new locations throughout eastern New Jersey, Pennsylvania and Delaware in 2001.
The NYCE Corporation is one of the largest electronic payments companies in the United States, providing financial institutions and retailers with shared network services for ATMs, on-line debit POS and electronic benefits transfer transactions. The NYCE network includes 2,400 financial institution participants and services more than 47 million cardholders through 41,500 NYCE-branded ATMs and 225,000 POS retailer locations. The company processes nearly 83 million transactions each month.
