TRM and CO-OP Network Renew ATM Branding Partnership
PORTLAND, Oregon: April 5, 2006 -- TRM Corporation (NASDAQ: "TRMM") announced that TRM and CO-OP Network have renewed their ATM branding partnership. The new accord results in TRM's Access Cash ATM portfolio of nearly 5,500 machines continuing to carry the CO-OP Network logo.
"TRM’s outstanding reputation for service and our track record for the highest uptime levels in the industry are important factors to the partnership with CO-OP Network," says TRM Executive Vice President Dan Tierney. "We provide CO-OP Network with leading pricing and service, and they provide us with increased ATM transaction volume and foot-traffic that translates into money in our merchants’ registers."
CO-OP Network, the nation’s largest credit union EFT processor and ATM Network, and TRM, one of the world’s largest ATM providers, maintain an additional branding agreement that is not affected by the Access Cash accord. That agreement provides CO-OP Network with 1,000 surcharge-free ATMs located in The Pantry and Cumberland Farms along the East Coast.
"I want to commend our partners at TRM for working so diligently with CO-OP Network management," says CO-OP Network CEO Stan Hollen. "Late last year CO-OP Network began an evaluation of our ATM branding associations, and the TRM leadership quickly stepped up to begin strengthening our Access Cash portfolio."
About TRM
TRM Corporation is a consumer services company that provides convenience ATM and photocopying services in high-traffic consumer environments. TRM's ATM and copier customer base consists of over 32,000 retailers throughout the United States and over 42,600 units worldwide, including 6,200 units across the United Kingdom and over 4,400 units in Canada. TRM operates one of the largest multi-national ATM networks in the world, with over 19,000 locations deployed throughout the United States, Canada, Great Britain, Northern Ireland and Germany.
About CO-OP Network
CO-OP Network (www.co-opnetwork.org), established in 1981 and located in Ontario, Calif., is wholly-owned by its credit union shareholders and provides volume discounts on products and services that include ATM network access, full processing, debit services and shared branching. With 1,835 credit union members, 25,000 surcharge-free ATMs (including 6,000 deposit-taking), 100 million-plus monthly transactions and 24 million cardholders, CO-OP Network is the No. 1 credit union EFT network and processor in the U.S. financial services industry. CO-OP Network, whose membership has access to over 800,000 ATMs worldwide through links to NYCE, STAR, Cirrus, Pulse and Plus.
FORWARD LOOKING STATEMENTS
Statements made in this news release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, such as consumer demand for our services; access to capital; maintaining satisfactory relationships with our banking partners; technological change; our ability to control costs and expenses; competition and our ability to successfully implement our planned growth. Additional information on these factors, which could affect our financial results, is included in our SEC filings. Finally, there may be other factors not mentioned above or included in our SEC filings that could cause actual results to differ materially from those contained in any forward-looking statement. Undue reliance should not be placed on any forward-looking statement, which reflects management's analysis only as of the date of the statement. We assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
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