Check2Card Eliminates Check Cashing Fees; Consumers Get Complimentary CashZone Prepaid Visa Card

Check2Card Eliminates Check Cashing Fees; Consumers Get Complimentary CashZone Prepaid Visa Card

Metropolitan National Bank's CashZone Debuts Check2Card Program at Participating PriceRite Stores


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NEW YORK, Oct. 16 /PRNewswire-HISPANIC PR WIRE/ — Metropolitan National Bank (New York) and its wholly-owned subsidiary CashZone are pleased to announce the launch of the CashZone Prepaid Visa Card “Check2Card” Program in select PriceRite stores. CashZone Check2Card is a program that allows CashZone members to convert paychecks and most government-issued checks, for no charge, into instantly available funds (or “loads”) on a CashZone Prepaid Visa Card. The CashZone Check2Card Program was developed by Metropolitan National Bank, CashZone’s parent company, in response to demand for financial products that would reduce the cost of check cashing and bill paying for America’s working families. CashZone Check2Card lets unbanked and under-banked consumers avoid the hassle of getting, carrying, and paying with cash, while potentially saving hundreds of dollars a year in check cashing fees.

Participating PriceRite stores are located in Bridgeport and West Hartford, Connecticut, and Providence, Rhode Island. Grand opening events will include food, festivities, and giveaways for children and adults.

“CashZone Check2Card is an enormous first step toward the financial mainstream for previously under-served consumers, opening up a world of financial services to deserving families,” said Mark R. DeFazio, President and CEO of Metropolitan National Bank.

“Combining PriceRite’s everyday value with the CashZone Check2Card Program’s convenience and savings underscores PriceRite’s commitment to help the communities we serve,” said PriceRite President Neil Duffy. “PriceRite shoppers can now enjoy the absolute lowest prices on everyday items while combining their banking and shopping tasks under one convenient roof,” Mr. Duffy concluded.

The Check2Card program and grand opening events are being supported with advertising in local general and ethnic publications including El Canillita, La Voz, Providence En Español, The Bridgeport News, The Hartford Courant and The Providence American.

CashZone is a retail financial services company, serving over 110,000 members annually. In addition to the three PriceRite locations, CashZone operates 13 full-service financial centers in New York City. CashZone is a wholly-owned subsidiary of Metropolitan National Bank (New York), a nationally-chartered FDIC member institution with assets of over $550 million and four full-service banking centers in New York City.

New Jersey-based food distributor Wakefern Food Corporation owns PriceRite and also runs the ShopRite supermarket chain. Wakefern is the largest retailer-owned cooperative in the United States, operating supermarkets under the ShopRite and PriceRite banners in six Northeastern states. A long time supporter of key community efforts, ShopRite has been America’s Second Harvest Grocery Distributor of the Year. PriceRite stores share ShopRite’s commitment to community, supporting more than 60 local charities in efforts to fight hunger and poverty.

Participating PriceRite stores are:

PriceRite Bridgeport: 164 Boston Avenue, Bridgeport, Connecticut

(opened October 6; grand opening Saturday, October 25, 2008);

PriceRite West Hartford: 983 New Britain Avenue, West Hartford, Connecticut

(opened October 8; grand opening Friday, October 24, 2008); and

PriceRite Providence: 325 Valley Street, Providence, Rhode Island

(opened October 10; grand opening Sunday, October 26, 2008).

For more information visit http://www.cashzone.com or http://www.metropolitanbankny.com.

Spanish speaking bank representative available for interviews.

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Check2Card Eliminates Check Cashing Fees; Consumers Get Complimentary CashZone Prepaid Visa Card