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PenFed Credit Union taps NCR for ATM cash deposit capability

Source: NCR

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.

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