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Press Contacts: Pamela Hoy EFMARK Premium Armored 1-877-692-1500 phoy@efmark.com |
Greater Iowa Credit Union Signs EFMARK to Manage Cash at 400 ATMs
WESTMONT, IL. August 3, 2005– EFMARK Premium Armored, the nation’s largest independent company focusing exclusively on servicing automated teller machines (ATMs), today announced the availability of its Premium Cash ManagerTM program, which optimizes cash levels and improves profitability for financial institutions’ ATM programs. EFMARK customers are already taking advantage of the new offering, as Greater Iowa Credit Union (GICU) has selected EFMARK to provide cash management services for 400 ATMs.
Designed exclusively for an ATM program, EFMARK’s Premium Cash Manager is a fully automated currency management solution that performs the complex process of accurately predicting optimal ATM cash load levels. With clearer insight into the cash requirements at each ATM location, financial institutions can improve ATM uptime by preventing cash outages, and simultaneously maximize their resources by eliminating unnecessary cash overages.
Most ATM service providers assess high fees for “emergency cash runs” when an ATM “runs dry” unexpectedly. However, EFMARK stands by the effectiveness of its Premium Cash Manager Preferred program by absorbing the cost of any emergency cash replenishments that arise.
"The goal of any cash management program is to keep the smallest amount of cash possible in the ATM, without coming up short,” said Mark Hoppe, EFMARK president and CEO. “Our cash management solution helps financial institutions control the costs of supplying currency to their ATMs, with the ultimate goal of keeping their customers happy.”
Premium Cash Manager’s advanced technology is strengthened by EFMARK’s team of cash analysts, who review and compile daily trend data for each ATM, identifying special events and seasonal trends for each market to accurately predict customers’ volume needs.
In its work with GICU, EFMARK already has reduced the credit union’s number of cash loads by nearly 40 percent, and has reduced the amount of cash by more than 30 percent.
“EFMARK will provide GICU with a wide range of expertise to enhance the performance and profitability of our ATM network,” said David Blakeley, GICU chief financial officer. “We look forward to partnering with EFMARK in furthering our success throughout the Midwest.”
Cash management services include load forecasting, order calculation, reconciliation and Reg E claims. Other cash services include currency vaulting, currency cassette preparation and balancing, and secure currency transport, pick-up and delivery.
To enhance its service to GICU and other financial institutions throughout Iowa, EFMARK is opening a new local office in Des Moines. The branch opening, which will support the GICU expansion, is another step in the company’s nationwide growth plan to provide the largest geographic footprint of any ATM service company.
“After nearly 25 years in the business, we’re excited about establishing a physical presence in Des Moines,” said Bill Collins, senior vice president of sales for EFMARK. “A local office enables us to strengthen our service to existing customers like GICU, and create new partnerships in the Iowa financial services community.”
EFMARK’s growth also has increased its need for experienced ATM professionals. The company is currently recruiting for its team in Des Moines, with a focus on ATM technicians for its armored cash services business.
About EFMARK Premium Armored
EFMARK Premium Armored is the nation’s largest “ATM only” service company, providing financial institutions with a single-source solution for ATM equipment and maintenance, cash management and delivery services, advanced monitoring and reporting tools, and overall ATM program management. Founded in 1981, EFMARK services more than 50,000 ATMs in 43 states, enhancing profitability and customer satisfaction for more than 1,600 financial institutions. For additional information on EFMARK, visit the company's Web site at www.efmark.com.
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