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PenFed Credit Union Expands Partnership with NCR’s Cardtronics to Provide Members Cash Deposit Capability through Allpoint ATMs
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Rhea-AI Sentiment
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partnership
Rhea-AI Summary
NCR Corporation (NYSE: NCR) announced an expansion of its partnership with PenFed Credit Union, the second-largest federal credit union in the U.S., to enhance cash deposit services at more than 1,200 Allpoint ATMs. This move allows PenFed's 2.4 million members to make cash deposits conveniently, complementing the over 85% of transactions that occur online. NCR aims to deploy over 1,800 cash deposit-enabled ATMs in key markets by year-end, further improving access to banking services for members.
Positive
Expansion of cash deposit capabilities at over 1,200 ATMs enhances service for 2.4 million PenFed members.
NCR plans to deploy over 1,800 cash deposit-enabled ATMs by the end of the year, targeting key markets.
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The partnership adds over 1,200 convenient locations where members can make cash deposits
ATLANTA--(BUSINESS WIRE)--
NCR Corporation (NYSE: NCR), a global enterprise technology provider, today announced that PenFed Credit Union, America’s second-largest federal credit union, is expanding its long-standing relationship with NCR and its newly acquired Cardtronics business to provide 2.4 million PenFed members cash deposit capabilities at more than 1,200 Allpoint ATMs. Cash deposits at ATMs add another layer of convenience as over 85% of PenFed member transactions occur online. Adding cash deposits at premium retail locations enables members to make convenient deposits near where they live, work, and shop. NCR plans to have over 1,800 cash deposit-enabled ATMs deployed in the largest and fastest-growing markets by the end of the year.
“PenFed has a long history of being a leading innovator in delivering new services and convenience to our members. Collaborating with strong partners like NCR and Cardtronics is a key piece to our strategic vision. Over the years, we have expanded our relationship with them to help us achieve operational efficiency and attract new members in critical markets,” said Brad Patterson, Head of Cards for PenFed.
“The addition of self-service deposit capabilities through our retail-based network of Allpoint ATMs allows PenFed to further expand its ‘anytime anywhere’ transaction capabilities nationwide,” said Carter Hunt, Managing Director of North America for NCR’s Cardtronics business. “We are exceptionally proud of the innovative solutions that we can provide to forward-thinking PenFed as its members’ desire for self-service banking and surcharge-free cash withdrawals and deposits continues to grow.”
PenFed collaborates with NCR and its Cardtronics division on other products and services, including ATM branding, managed services, and locator search.
PenFed also provides member access to Allpoint, the world’s largest retail-based surcharge-free ATM network, with more than 40,000 ATMs in the U.S. and 55,000 worldwide. Consumers can find Allpoint ATMs in top retail establishments such as grocery and convenience stores, pharmacies, and big-box stores.
About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving 2.4 million members worldwide with over $28 billion in assets as of July 31, 2021. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services. Our mission is to empower members of our community to achieve their financial well-being. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leading software- and services-led enterprise provider in the financial, retail and hospitality industries. NCR is headquartered in Atlanta, Ga., with 36,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.
