SUM Selective Surcharging Program Expands In New Hampshire And Michigan.WOODCLIFF LAKE Woodcliff Lake may refer to:
Popular Program Endorsed By Community Bankers Associations SUM(SM), a selective surcharging program created and administered by the NYCE See New York Cotton Exchange. NYCE See New York Cotton Exchange (NYCE). Network, has earned the endorsement of the Michigan Association of Community Bankers (MACB MACB MacAulay-Brown, Inc. MACB Maine Association of Community Banks MACB multinational acquisition and contracting board (US DoD) MACB Mad As Can Be ) and Community Bankers Association of New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). (CBANH). The endorsements will help to significantly expand the SUM Program, which has earned the praise of financial institutions, local governments, consumers and the media. Under the SUM Program policy, participating institutions allow the cardholders of other program members to use their ATMs surcharge-free. The SUM Program, launched by NYCE in Massachusetts in 1998, has gained outstanding support over the last two years. Currently, 370 financial institutions of diverse sizes and charters participate in SUM, bringing 2,380 ATMs to the program. "We're impressed by the many benefits that SUM has brought to both financial institutions and consumers in the Northeast, and we want to bring these benefits here to Michigan," says Bud Fliss, executive vice president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. with MACB. "We plan to work aggressively with our 140 member banks, making sure they understand the value that SUM can bring to their ATM programs and encouraging their participation." "The SUM Program allows financial institutions to take advantage of combined resources, and as a result, offer their cardholders access to a wider range of surcharge-free ATMs," says Susan A. Zawodniak, vice president with NYCE and executive director of the NYCE Network. "We are pleased to bring SUM's benefits to CBANH and MACB members, and we will provide a high degree of support to facilitate SUM participation in these new states." NYCE -- which administers all facets of the program -- developed the SUM name and service mark logo to help consumers readily identify participating ATMs. To help financial institutions promote their participation in the SUM Program, NYCE offers a full line of collateral materials such as statement stuffers, counter cards and posters. NYCE also administers a Web site designed to help consumers obtain information about participating SUM financial institutions and ATM locations - www.sum-atm.com. "SUM is widely successful because it supports pricing flexibility in the highly competitive financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. environment - an attribute that is appreciated by both consumers and financial institutions," says Ron Sibley, president with CBANH. "This popular and easy-to-implement program will help New Hampshire's community banks remain competitive by providing increased levels of service and attractive new consumer options." Community Bankers Association of New Hampshire is a state association of independently managed commercial banks, mutual savings banks Mutual savings bank A state-chartered savings bank which is owned by its depositors and managed by a fiduciary board of trustees. and federally chartered thrifts. Headquartered in Woodcliff Lake, NJ, NYCE Corporation is one of the largest electronic payments companies in the U.S. The NYCE Network provides financial institutions and retailers with shared network services for automated teller machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATMs), on-line debit point-of-sale and electronic benefits transfer transactions. Currently, the Network has more than 2,300 financial institution participants and services more than 47 million cardholders through 39,000 NYCE-branded ATMs and 225,000 point-of-sale retailer locations. The company processes nearly 83 million transactions each month. In addition, NYCE Corporation provides financial institutions with electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. processing services that support ATM deployment and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. issuance solutions. Innovations such as SafeDebit(TM), a real-time PIN-secured Internet debit payment solution,have established NYCE as a frontrunner in the payments industry. NYCE's web site address is www.NYCE.net. |
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