News

Amicus Financial moves to secure CCC ATMs

December 9, 2001

FALLS CHURCH, Va. -- Amicus Financial, the electronic banking division of CIBC, today announced it will solicit all of the Credit Card Center's (CCC) former merchant customers and assume management of that company's nearly 15,000 ATM terminals.

On August 24, a federal bankruptcy court judge in Philadelphia awarded XtraCash ATM, the ATM operating arm of Amicus Financial, the exclusive rights to petition all of CCC's former merchant customers to convert their ATMs to Amicus' service. At present, Amicus manages more than 8,000 ATMs in the U.S. and Canada, which are used by some 800,000 customers.

According to statements released by Amicus, Brian Cassidy, CEO of Amicus, said the announcement signals a milestone in the company's ongoing quest to become the largest electronic bank in North America. Eugene DeSilva, chief officer of Amicus Financial's remote banking division, echoed Cassidy's optimism about the company's aggressive strategy.

"Amicus Financial's long-term ATM strategy is to create North America's largest and most comprehensive bank machine network. We want to ensure that our ATMs provide fee-free access to funds for Amicus Financial banking customers and reliable, convenient access to cash for the public."