Citi forms 'ATM Community Network'

Source: Citi

Citi today announced the formation of the Citi ATM Community Network, a new pilot program providing more than 300,000 customers of participating minority-owned banks and credit unions with the ability to withdraw cash with no surcharge fee at Citibank branch ATMs including those in Chicago, Los Angeles, Miami, New York, San Francisco and Washington D.C.

“The Citi ATM Community Network will expand access to ATMs in key areas by capitalizing on our branch network in six major urban centers in the U.S.,” said Will Howle, Head of U.S. Retail Banking at Citi. “We take seriously our role of providing financial services to the broad spectrum of populations in the communities in which we operate, and the Citi ATM Community Network is yet another way we will do it.”

“At Citi, we share the same goal as minority-owned banks and credit unions which is to provide wide access to safe and affordable financial products and services, especially in low-income communities and communities of color,” said Bob Annibale, Global Director, Citi Inclusive Finance and Community Development and member, FDIC Advisory Committee on Economic Inclusion. “The Citi ATM Community Network enables us to collaborate in a new way by expanding access and convenience for the customers of these partner institutions while at the same time, strengthening local trusted credit unions and minority-owned banks.”

The Citi ATM Community Network will mean participating organizations have free access to roughly 2,400 branch ATMs in Citi’s markets in the U.S. The new Network was unveiled at a public meeting of the Office of the Comptroller of the Currency’s (OCC) Minority Depository Institutions Advisory Committee.

“The Federation is pleased to be working with Citi to dramatically expand surcharge free access to ATMs for members of credit unions participating in this unique pilot. Members will benefit from the convenience of Citi’s extensive ATM network while continuing to benefit from the safe and affordable products and services of their credit union,” said Cathie Mahon, CEO of the National Federation of Community Development Credit Unions, whose member credit unions serve low-income consumers and communities. “We value Citi’s commitment to thinking beyond the traditional boundaries to support credit unions serving underserved communities.”

“This is the first time Continental Bank has ever collaborated with a major financial institution, although we have tried before. We hope this global bank-local institution model can be replicated, and we commend Citi for launching the Citi ATM Community Network. This partnership extends Citi’s secure and comprehensive ATM network to our clients, expanding access and saving costs,” said Guillermo Diaz-Rousselot, President and Chief Executive Officer of Continental National Bank and member of the OCC’s Minority Depository Institutions Advisory Committee.

Organizations participating in the Citi ATM Community Network include: District Government Employees Federal Credit Union; Lower East Side People's Federal Credit Union; Neighborhood Trust Federal Credit Union; New York University Federal Credit Union; Brooklyn Cooperative Federal Credit Union; Quontic Bank; North Jersey Federal Credit Union; Northeast Community Federal Credit Union; Southern California Edison Federal Credit Union; University of Southern California Credit Union; Family Federal Credit Union; JetStream Federal Credit Union; Self-Help Federal Credit Union; Continental National Bank; and Mission National Bank.

Comments: (0)

Featured job
All Jobs »