State Community Bank Group Endorses PULSE Select ATM Surcharge-Free Alliance; Independent Bankers Association of Texas Official Says Program Will Boost Convenience.

Business Editors

HOUSTON--(BUSINESS WIRE)--July 21, 2000

An alliance of PULSE(R) EFT Association member financial institutions offering each other's customers surcharge-free use of ATMs has been endorsed by IBAT Services Inc., a subsidiary of the Independent Bankers Association of Texas (IBAT).

By choosing to take part in PULSE's Select(tm) ATM program, banks, credit unions and savings and loans can offer their debit cardholders a greatly expanded number of ATMs at which they can access their cash without paying a fee.

Typically, customers can use ATMs owned by their own financial institution at no charge, but when they use a machine owned by another financial institution, consumers may be assessed a surcharge, or convenience fee. PULSE offers access to Select(tm) ATM to all its members on a non-discriminatory basis.

"PULSE has earned the reputation for providing high-quality EFT services and we look forward to working with them on this valuable service offering," said Chris Williston, president and chief executive officer of IBAT. "Select(tm) ATM will provide our member financial institutions with added conveniences to better serve their customers," he said.

"We're delighted that IBAT Services Inc. has elected to endorse Select(tm) ATM," said Stan Paur, president and chief executive officer of PULSE EFT Association. "Community banks increasingly are offering their customers added conveniences, and the Select(tm) ATM program will enable independent banks to satisfy consumer and marketplace demands."

Today, nearly 60 percent of PULSE's more than 2,000 member institutions are community banks.

"The selection of PULSE by IBAT Services to provide this service is truly a compliment, and emphasizes the importance of electronic banking to community bankers and their customers," Paur said.

IBAT membership includes more than 770 community owned and operated banks in Texas, representing in excess of $55 billion in assets.

PULSE is one of the nation's leading shared electronic funds transfer networks, serving more than 2,000 banks, credit unions and savings and loans across a nine-state primary service area including Alabama, Arkansas, Colorado, Louisiana, Mississippi, New Mexico, Oklahoma, Tennessee and Texas. The network links an estimated 45 million cardholders with more than 46,000 ATMs and 236,000 point-of-sale terminals throughout the United States.