SAN JOSE, Calif., June 3, 2008 (PRIME NEWSWIRE) -- If you think joining a credit union means having less access to ATMs, think again. Technology Credit Union (Tech CU) has announced a partnership with AllPoint Network that beginning June 4 will provide increased surcharge-free ATM access to their membership to the tune of more than 8,000 ATMs in California and 57,000 nationwide. With this partnership, the size of Tech CU's total surcharge-free ATM network now surpasses Bank of America's by more than 4,500 and 30,000 ATMs respectively.
"We know how important it is for our members to have free ATM access in convenient locations across the country," said Tech CU Senior Vice President Michael Luckin. "By adding AllPoint's network, we're making that a reality. Our members now have access to additional surcharge-free ATMs in the most familiar shopping and destination points nationwide and, in particular, around the Bay Area." These locations include Target, Costco, Walgreen's and Rite-Aid pharmacies, Chevron gas stations, to name a few.
The AllPoint agreement will enable Tech CU to secure a fixed-cost structure for unlimited use at AllPoint ATMs, limiting both credit union and member exposure to rising surcharge rates. The national average surcharge surpassed the inflation rate by more than 300 percent in 2007 and Bank of America recently announced that their surcharge rates would rise from $2.00 to $3.00, a 50 percent increase.
"We're very excited to welcome Tech CU to AllPoint," said Ben Psillas, Founder and President of AllPoint. "Tech CU continues to grow and lead by enhancing member value through initiatives such as nationwide surcharge-free access."
Members can use Tech CU's web site to find the nearest surcharge-free and deposit-taking ATMs, as well as Tech CU branches and service centers, including maps and driving directions. The Tech CU ATM Location Finder can be accessed at http://techcu.locatorsearch.com/index.aspx.
ABOUT TECHNOLOGY CREDIT UNION
Technology Credit Union is a full-service, financial institution serving individuals who work, live, go to school or regularly worship in Santa Clara, Alameda, Contra Costa, Santa Cruz, San Mateo and San Francisco counties. Tech CU was started in 1960 and is now among the top 1 percent of the nation's largest credit unions. With more than 78,000 members, over $1 billion in assets and 10 full-service branches around the Bay Area, Tech CU is a leader in the credit union industry. For more information, visit www.techcu.com.
ABOUT ALLPOINT
AllPoint, a division of Cardtronics (Nasdaq:CATM), is America's Largest Surcharge-Free ATM Network, with 32,000 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 institutions with the tools to compete more effectively for customers. For more information or to find the nearest AllPoint surcharge-free ATM, visit the company's web site at www.AllPointNetwork.com.