News

Tranax says its Mini-Bank is in high demand among credit unions

July 17, 2006

TORONTO - Tranax Technologies Inc. announced at last week's National Association of Federal Credit Union's Conference & Exhibition that Tranax's Mini-Bank family of essential banking ATMs have been in high demand from credit unions and smaller banks. Among the first credit unions to buy the new low cost, high quality ATMS include Fairleigh Dickinson Federal Credit Union, GPO Federal Credit Union, Southeast Financial Credit Union, Lake Chem Federal Credit Union, New South Credit Union, Cumorah Credit Union, Forest Area Federal Credit Union, Finger Lakes Healthcare Federal Credit Union, and Stevenson Federal Credit Union.

Tranax said it has sold several hundred banking ATMs to numerous community banks and credit unions.

"Essential banking services provide credit unions and smaller banks a level playing field with the larger banks," said Dr. Hansup Kwon, Tranax's founder and chief executive. "We're delighted with the demand that we have experienced thus far and expect it to only increase over time."

Tranax says it has put a strong support program in place for smaller financial institutions. The Tranax banking business partners selling these products are providing service that meets the FI's specific requirements. All Tranax partners are trained by Tranax and are required to stock a full complement of spare parts.

"We program (and) configure each machine to the individual requirements of the enduser and then set up, test and stage it before we ship," Kwon said.