ALEXANDRIA, Va. Pentagon FCU announced this morning it has signed a deal to link to 167 ATMs located in Rite Aid stores in Maryland, Virginia and greater Washington D.C., part of a broader ATM co-branding strategy.
“We have thousands of members who live in these combined regions, and so it is a pleasure to announce that we are extending PenFed branded ATM services in these convenient Rite Aid store locations,” said Kevyn Myers, executive vice president of card services with PenFed. “This service arrangement allows us to more than double our fleet in an efficient, cost effective manner.”
Members can expect to find PenFed branded, custom-designed screens at the ATMs that are enhanced with features such as faster processing speeds, added security and a variety of upgraded cash-dispensing configurations.
PenFed worked with Welch ATM to secure the Rite Aid deal. Welch ATM is under contract with Rite Aid to manage and brand the pharmacy chain's ATMs at more than 2,000 stores across the U.S.
The nation’s third-largest credit union said it is exploring other partnership opportunities that will allow the $16 billion credit union to continue to expand its ATM services in membership hubs where PenFed branches are not readily available.
The ATMs are surcharge-free to all PenFed members using PenFed cards. A $3 transaction fee will apply to non-members.
