STRATEGIC PARTNERS
February 24, 2002
FORT LAUDERDALE, Fla. -- BankAtlantic recently began installing ATMs in 92 Cumberland Farms stores throughout Florida.
Fifty-three of these stores will stay open 24 hours, while the remaining stores will be open daily from 5 a.m. to 11 p.m. Cumberland Farms, a full-service convenience store with operations headquartered in Canton, Mass., has similar relationships with other financial institutions throughout the Northeast. Management at Cumberland Farms reports that their Northeast stores with ATMs generate higher than average sales volume than stores without ATMs.
Access Cash, one of the largest non-bank deployers of ATMs, has been commissioned by BankAtlantic to outfit these convenience outlet installations. Access Cash, based in Minneapolis, Minn., will handle all operational aspects including cash management, servicing and processing.
In pursuit of increased market penetration across Florida, BankAtlantic has more than tripled its ATM installations this year. By the end of 1998, BankAtlantic expects to have nearly 800 ATMs, with 90 percent of these in retail establishments, including Wal-Mart stores, gasoline and convenience food stores, malls and college campuses.
