PRESS RELEASE
First Financial FCU Joins Allpoint
$500 Million Credit Union Cites Competitive Advantage and Cost Savings as Main Reasons to Join National Surcharge-Free ATM Network
Bethesda, MD, July 20, 2004 – Allpoint™, America’s largest surcharge-free ATM network, announced the signing of the $500 million First Financial Federal Credit Union of Lutherville, MD. “As one of Maryland’s largest credit unions, we are very excited about First Financial FCU joining Allpoint,” said Ben Psillas, President of Allpoint Network. “First Financial’s decision to join validates that Allpoint’s card based pricing model is very cost-effective for credit unions.” "First Financial FCU is excited about offering our members over 25,000 surcharge-free ATMs through the Allpoint Network,” stated Rob Windsor, President of First Financial FCU. “With the addition of the service, we are no longer at a competitive disadvantage. It should help convince our members that our checking account is the best. The Allpoint program is also cost effective. In the past, we were rebating surcharge fees to our direct deposit members and now with Allpoint, we are saving over $10,000 a month in expense." Allpoint is America’s largest surcharge-free ATM network, comprised of 25,000 ATMs nationwide. Allpoint was created to provide customers of financial institutions with greater access, convenience, and savings, while enabling their financial institution to compete more effectively with larger financial institutions. Allpoint’s unique membership structure makes it very cost effective for a financial institution to join and easy for their customers to use. Allpoint has the industry’s first card-based fee structure, which provides the financial institution with a fixed and predictable cost structure. “The most significant benefit of a card-based pricing model to a financial institution is that their membership costs are fixed, while access is unlimited to their cardholders,” stated Psillas. “In other networks, you pay as you go, so the more your customers use the service, the more the service costs the financial institution.”
7315 Wisconsin Avenue, Suite 750 East, Bethesda, MD 20814 phone 301-492-2100 fax 301-492-2101 www.AllpointNetwork.com
Additional benefits of joining include the following: Member credit union ATMs do not participate. Does not require processor conversion. Does not require any new technology or card reissuance. Card based pricing provides cost-effective and predictable cost structure.
Allpoint’s surcharge-free ATMs are conveniently located within national retailers such as Target and Costco, as well as Giant Food and CVS in the Washington and Baltimore Metropolitan areas.
About Allpoint Allpoint is America’s Largest Surcharge-Free ATM Network, with more than 25,000 ATMs in leading national and regional merchant locations across the country. Allpoint provides greater access, convenience and savings to customers of financial institutions with limited ATM presence while providing the institution with the tools to compete more effectively for customers. Key network partners include proven industry leaders such as Cardtronics and Fiserv CNS/EFT. For more information or to find the nearest Allpoint surcharge-free ATM, visit the company’s web site at www.AllpointNetwork.com. ###
Contact Information: Allpoint: Steve Bruce or Jennifer Jenkins The Abernathy MacGregor Group, Inc. 212-371-5999 Ben Psillas, President of Allpoint Network 301-492-2103
7315 Wisconsin Avenue, Suite 750 East, Bethesda, MD 20814 phone 301-492-2100 fax 301-492-2101 www.AllpointNetwork.com