News
Bank-labeled ATM-placement program meets positive response
November 23, 2008
TEMECULA, Calif. — Creative Card Solutions has signed five new financial institutions — North Shore LlJ Health Systems, Pasadena Federal Credit Union, Midwest Operating Engineers FCU, Itasca Bank, and State Bank of Niantic — for its bank-labeling/ATM-placement program, which Creative Card Solutions launched earlier this year.
"Our program is phenomenal," said Creative Card Solutions president Marilyn Kilcrease. "We are getting a 19-percent return on solicitations, and 99 percent of the financial institutions that ask for additional information request agreements. With an average of four branch locations per FI and three to five ATM placements requested by each branch, we are diligently working to keep up the placement."
According to a news release, the program is completely different from a surcharge-free network. Under the bank-labeling/ATM-placement model, once an FI agreement is signed, Creative Card Solutions solicits local independent sales organizations to place the ATMs in the community where the FI is located; those ATMs are then surcharge-free for that bank's customers.
"It really is a simple concept — the FI gets practically free ATMs, the ISO gets an established bank relationship, the merchant gets a bank-labeled ATM that statically brings in more transaction volume, and the FI customers get more surcharge-free ATMs," said Patty Foster, Creative's project coordinator.
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