Olympia Financial Group Inc. (OLY.TO) is pleased to announce that its wholly-owned subsidiary Olympia ATM Inc. has been awarded a one-year contract, with five additional one year term optional extensions, with the City of Calgary for the placement and operation of up to 75 ATMs at Calgary Transit CTrain stations.
It is anticipated that the installation of the ATMs will be completed prior to June 30, 2016.
Olympia's successful proposal offers City of Calgary Transit LRT Riders convenient access to withdraw their own cash at rates considerably lower than those charged by other financial institutions. The surcharge per transaction for using the ATMs located at CTrain stations will be $1.00 for cash withdrawals of $60 or less and $1.50 for cash withdrawals above $60. Olympia believes that this unique low-surcharge model will be a significant benefit to Transit customers and will result in a significant increase in our transaction volumes.
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