In Brief: KeyCorp Joins Post Office ATM Program

the U.S. Postal Service in a pilot program to put automated teller machines in post office lobbies in neighborhoods underserved by banks.

The organizations unveiled the program on Monday, saying ATMs would offer standard banking services and distribute government benefits at three sites in Baltimore and three in rural Florida. If the program succeeds, it will be expanded.

"This project represents a very complementary joining of forces among the three organizations to try to deliver a service that ultimately will benefit the end-user public," said Robert W. Gillespie, chairman and chief executive officer of KeyCorp. The Cleveland banking company counts the Postal Service as its largest depository/cash management services customer. "We expect it will bring easier and quicker access to recipient funds, particularly since many post office lobbies are conveniently located," he said "It should also make the government's distribution process more efficient and less costly."