BETHESDA, Md., Dec. 9, 2009 (GLOBE NEWSWIRE) -- Allpoint(R) Network, a Cardtronics, Inc. affiliate (Nasdaq:CATM), and the operator of the nation's largest surcharge-free ATM network, announced the signing of Merchants Bank located in Vermont, a $1.4 billion asset bank with thirty-four full-service locations throughout Vermont. Founded in 1849, Merchants has grown to be the largest bank by assets headquartered in the state. Merchants has continued to expand, opening several new branches in the past few years, and is now offering 35,000 surcharge-free ATMs nationwide at leading retailers such as 7-Eleven(R), Target(R), and CVS Pharmacy(R) through the Allpoint Network.
"We are excited about entering Vermont with a leading institution like Merchants Bank," said Ben Psillas, President of Allpoint. "As the cost of deploying ATMs continues to rise, larger institutions are looking to Allpoint to offer mega-bank convenience without the infrastructure management requirements."
"This is a big step forward in service for us," commented Merchants Executive Vice President Thomas Leavitt. "We are pleased to be giving our customers throughout Vermont and neighboring states the great convenience and reach of the Allpoint Network."
About Allpoint:
Allpoint is the largest surcharge-free ATM network with 37,000 ATMs in leading national and regional merchant locations across the United States and the United Kingdom. Allpoint provides greater access, convenience and savings to customers of financial institutions while providing institutions the tools to compete more effectively for customers. For more information or to find the nearest Allpoint surcharge-free ATM, please visit www.AllpointNetwork.com.
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About The Merchants Bank:
Vermont Matters. Merchants Bank strives to fulfill its role as the state's leading independent community bank through a wide range of initiatives. The bank supports organizations throughout Vermont in addressing essential needs, sustaining community programs, providing small business and job start capital, funding financial literacy education and delivering enrichment through local sports activities.
Merchants Bank was established in 1849 in Burlington. Its continuing mission is to provide Vermonters with a statewide community bank that combines a strong technology platform with a genuine appreciation for local markets. Merchants Bank delivers this commitment through a branch-based system that includes: 34 community bank offices and 42 ATMs throughout Vermont; local branch presidents and personal bankers dedicated to high-quality customer service; free online banking, phone banking, and electronic bill payment services; high-value depositing programs that feature Free Checking for Life(R), Cash Rewards Checking, Rewards Checking for Business, business cash management, money market accounts, health savings accounts, certificates of deposit, Flexible CD, IRAs, and overdraft assurance; feature-rich loan programs including mortgages, home equity credit, vehicle loans, personal and small business loans and lines of credit; and merchant card processing. Merchants Bank offers a strong set of commercial and government banking solutions, delivered by experienced banking officers in markets throughout the state; these teams provide customized financing for medium-to-large companies, non-profits, cities, towns and school districts. Merchants Trust Company, a division of Merchants Bank, provides investment management, financial planning and trustee services. Please visit www.mbvt.com for access to Merchants Bank information, programs and services. Merchants' stock is traded on the NASDAQ National Market system under the symbol MBVT. Member FDIC. Equal Housing Lender.