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USPS credit union joins Select-A-Branch ATM network
June 17, 2008
KING OF PRUSSIA, Pa. — The Select-A-Branch ATM Network has added the U.S. Postal Service Federal Credit Union to its network.
According to a news release, the USPS credit union has outsourced five branch ATM locations to SAB, as well as full participation in the network — providing branded, surcharge-free transactions to its own cardholders.
SAB ATMs are equipped with patent-pending software that allows multiple financial institutions to deliver branded transactions at each SAB ATM. When the cardholder of a participating institution swipes her card at an SAB ATM, she instantly is presented with transaction screens branded with her FI's logo and marketing messages. The surcharge is then shifted to the institution, resulting in a surcharge-free transaction to the card holder.
"Outsourcing our ATM offering was a big step for our organization," said Steve Cimino, executive vice president of USPS FCU. "But the SAB model presented such a unique shift in the ATM business that it was a profitable step for us to take. And since USPS FCU screens remain branded in our look and feel, there is no confusion to our existing card holders."
Aside from SAB's standard customer service and brand extension benefits, providing outsourcing services to USPS FCU provides the credit union with the added benefit of eliminating ATM ownership and maintenance costs.
SAB transactions are processed by Fiserv.
"Fiserv is very enthusiastic about the evolution of SAB," said Tom Fox, vice president of sales for Fiserv's EFT division. "We believe that more and more institutions will look to outsource their ATM offerings over time, and SAB appears to have a superior model that provides benefits to customers, merchant locations and financial institutions alike."
Remote ManagementTransaction ProcessingRetail / Off-PremisesNorth AmericaDebit / CreditBank / Credit UnionBranch TransformationSoftware
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