Thousands of Albertans respond to Cashco and ATB's real world banking

45 Cashco Stores in Alberta offer accounts empowered by ATB

EDMONTON, March 28, 2017 /CNW/ - On Monday, February 13, Cashco and ATB Financial announced an innovative arrangement allowing Cashco, a leader in alternative financing, to offer Transaction and Savings Accounts empowered by ATB Financial.

Tim Latimer, Cashco PRESIDENT and CEO, says the new arrangement was inspired by the desire to serve all Albertans. "We have always been focused on providing relief today and hope tomorrow.  This new chapter in delivering meaningful banking services to everyone is the right thing happening at the right time."

Following weeks of intensive training and after fulfilling rigorous compliance requirements, Cashco has fully launched these innovative accounts throughout all of its 45 Alberta stores. Cashco front line staff, with the help of ATB has enrolled over 1,400 new clients in just a few weeks.

Dave Mowat, ATB PRESIDENT and CEO, has also recognized the changing environment for Albertans. "Today, things are changing, we've listened and instead of asking them to come to us, we're going to them."

The accounts were created to bring meaningful banking to underbanked and underserved Albertans. Everyday Use Account options include: overdrafts up to $500 with no monthly fees and a 25 cent cashback incentive on every transaction.  In April the MOM Matched Savings Account will be launched to help moms save. The account will match a $10 monthly savings deposit with $10 from Cashco up to $120 annually.

Rob Shields, Cashco VP Marketing, said, "It's about improving financial health and financial literacy with a forgotten sector. When all Albertans have fair access to credit and banking, they are more active in the economy.  It's a win for everyone."

The relationship between Cashco and ATB is unprecedented in the financial sector.  Cashco is a leader in the Canadian alternative finance industry.  With headquarters in Edmonton, Cashco, established in 2007, offers a full suite of financial services.  In addition to these new accounts, Cashco offers small dollar loans, cheque cashing, and money transfer services.  Cashco operates both online and through a network of 65 branches throughout BC, Alberta, Saskatchewan, and Ontario.   A team of 200 people service over 50,000 clients.

SOURCE Cashco Financial

For further information: For more information and interview requests, please contact: Rob Shields, VP Marketing, Cashco, rshields@cashcofinancial.com 780-424-1080 (Ext. 302), cashcofinancial.com

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