Sharenet, a Syracuse, N.Y.-based, full-service ATM services provider, recently purchased Phoenix, Ariz.-based Express Teller Services, which allows expansion of Sharenet's ATM services to credit unions on the West Coast, according to a press release announcing the acquisition.
“We wanted to find talented, experienced individuals within the marketplace that would allow us to expand our reach to the West Coast and, more importantly, give credit unions and community banks easier access to our services,” Sharenet CEO Ray Davis said.
Sharenet offers turn-key ATM management services, including a full-service outsourcing program, surcharge-free ATM network and branding program, the company said.
“Our goal was to align with a financial institution-focused company that understands the evolving U.S. ATM industry, the complex regulatory requirements involved in operating ATMs and the challenges and potential for growth,” said Josh Ettesvold, president of Express Teller Services, who will join Sharenet's team.
“As the industry changes, we felt Sharenet was complementary to Express Teller Services and would allow us to better serve our customers,” Ettesvold added. “In addition, our customers will receive better pricing on transactions, equipment, supplies and services because Sharenet's extensive network of customers gives the company collective buying power which they pass on in the form of lower prices.”
Sharenet was founded in 1994 by 10 New York credit unions with the guidance ofGreg Card, a New York State Credit Union League Hall of Fame inductee.
Davis purchased the company in 2008.
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