Key Reaches 100 in Agent-Bank Contracts for Its ATM Network

Keycorp, Cleveland, announced today it has signed the 100th contract in its agent-bank program for its ATM network. The contract, with Workman's Circle Credit Union, Cheektowaga, New York, calls for the institution's customers to have access to 289 Key ATMs in the state of New York. Under Key's agent-bank program, partner institutions offer their customers access to Key ATMs in their market areas at no surcharge to the customer. Key owns nearly 2,200 machines nationwide, including 716 located in Arco stores on the West Coast. The program also includes 900 ATMs in the South and Southwest owned by SouthTrust Corp., which agreed yesterday to be acquired by Wachovia Corp. in a $14.3 billion deal. Key's agent-bank program is intended to allow small community institutions with few or no ATMs to outsource ATM access. “Since we began our agent bank program several years ago, we've seen it grow quickly in acceptance as more banks and credit unions look for ways to enhance customer service and provide their customers and members with greater access to their accounts,” said Sarah Grotta, senior vice president, Key Consumer Payment Sales, in a statement. Other recent signings in Key's program include Kenton Federal Credit Union, Tonawanda, N.Y. (for Key's New York state ATMs); North Salem State Bank, North Salem, Ind. (536 Key ATMs in Indiana, Michigan, and Ohio, plus 301 SouthTrust machines in Florida); and Cutting Edge Federal Credit Union, Milwakie, Ore. (371 Key ATMs in Oregon and Washington).