NTBK broadens account prospects....
Monday June 14, 12:11 pm Eastern Time
Company Press Release
SOURCE: Net.B@nk, Inc.
Net.B@nk(TM) Joins Armed Forces Financial Network
Nation's Largest Pure Internet Bank Offers U.S. Military Personnel Worldwide Account Access
ATLANTA, June 14 /PRNewswire/ -- Net.B@nk(TM), Member FDIC (Nasdaq: NTBK - news; netbank.com), the nation's largest pure Internet bank,
has joined the Armed Forces Financial Network (AFFN) to provide financial services to U.S. military personnel around the world, Net.B@nk CEO D.R. Grimes
announced today. Available later this summer, this alliance will make Net.B@nk a participating financial institution with the AFFN, allowing members who open
Net.B@nk accounts use of the 30,000 AFFN ATM machines nationwide with no added fees.
''This alliance with the AFFN gives Net.B@nk access to a vital market of millions of ideal customers,'' said Grimes. ''One of the inherent benefits of Internet
banking is 24-hour-a-day account access from anywhere in the world. This will be particularly valuable to military personnel who frequently transfer from one base
to another or are deployed on active duty for extended periods of time and would enjoy the stability of keeping the same bank account and having access to it no
matter where in the world they may be stationed. These customers will also profit from Net.B@nk's high interest rates and low fees.''
As an Internet bank without branches, Net.B@nk's overhead costs are a fraction of those incurred by ordinary banks and those savings are passed along to
customers in the form of higher interest rates. Net.B@nk offers traditional banking services like interest checking accounts, money market accounts, CDs and Visa®
check cards to its customers -- exclusively over the Internet -- with exceptional rates and very low fees. Net.B@nk customers in AFFN will receive the ultimate
conveniences in online banking such as unlimited online bill payment and unlimited account access, in addition to services like online brokerage services and mortgage
lending.
''An Internet bank in AFFN gives its customers the opportunity to maintain the same bank account when they are transferred, and the ability to manage their
finances when they go on assignment. Having an account with Net.B@nk also provides AFFN members with opportunities for additional financial services such as
mortgages, loans, brokerage services and credit cards online,'' said Larry Borden, vice president, AFFN.
The Armed Forces Financial Network (AFFN) was formed in 1985 as a not-for-profit corporation and is equally owned by the Association of Military Banks of
America and the Defense Credit Union Council. The specific goal of the AFFN is to provide U.S. military personnel (active, reserved, dependents and retired) with
ready access to their funds through ATM and POS terminals located at or near U.S. military bases worldwide. For more information about the AFFN and its
services, please visit the web site at affn.org.
Net.B@nk, Inc. (Nasdaq: NTBK - news), is a financial services company whose sole subsidiary, Net.B@nk, Member FDIC, is the first profitable pure Internet
bank in the country, having achieved profitability in the past four successive quarters. The Company's stock was the top-performing thrift stock in 1998. With more
than 35,000 accounts and customers in all 50 United States and 20 foreign countries, Net.B@nk is the largest FDIC-insured bank operating solely on the Internet.
In addition to free checking and money market accounts and certificates of deposits with exceptional interest rates, Net.B@nk offers its customers the ultimate
convenience in banking. Net.B@nk is a member of the MasterCard®/Cirrus®, HONOR®/STAR(SM) and AFFN ATM networks. Products and services include
free online account access, free unlimited online bill payment, free unlimited ATM use, VISA® Check Card, VISA® and MasterCard® credit cards, online
brokerage services, mortgage lending and business equipment leasing services. For more information on Net.B@nk, its products and services, visit the web site at
netbank.com, or call 888-256-6932.
SOURCE: Net.B@nk, Inc.
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