Terme Bancorp Provides Corporate Update
20 May 2014 - 10:30PM
Marketwired
Terme Bancorp Provides Corporate Update
CEO Highlights How Terme Capital's GPR Card Provides Economic
Inclusion to the Growing Underbanked Consumer Population While
Increasing Shareholder Value
SUMMIT, IL--(Marketwired - May 20, 2014) - Terme Bancorp (OTC:
TMEB), a holding company specializing in money services and
consumer behavior initiatives, today releases a corporate update
letter from its CEO, John G. Yedinak.
To shareholders and the investment community:
Since Terme has recently become current with its financial
reporting and increased its share capitalization to facilitate
growth, this is an optimal time to update current and potential
shareholders on our business operations and vision for the
future.
Terme Bancorp's primary mission is to provide economic inclusion
for a large segment of the population that is underserved or
rejected by banks and other financial institutions due to their
ethnicity, poor credit or prior banking history. Terme Capital's
core business is to provide global electronic money services to
consumers by offering general-purpose reloadable (GPR) cards that
are sponsored by affinity groups.
The Company collects a small transaction fee for every consumer
transaction using our GPR cards and we expect to experience early
success and generate steady revenue growth in this area of our
business based on the rapid growth occurring in the electronic
currency market.
Targeted affinity groups for our prepaid cards include
charitable, religious, entertainment, athletic, corporate, social,
and government organizations. Terme is currently working with these
organizations to enable them to offer the general public, their
members and employees tools for personal financial empowerment and
inclusion.
The Company's affinity
relationships will be unique to every entity but have a common
revenue sharing component with a portion of the proceeds
specifically directed to support the social and philanthropic
initiatives of the affinity partner. Terme Bancorp intends to enter
into strategic celebrity endorsements as well as pledge our support
for US military veterans via our GPR card agreements.
Utilizing the most secure chip
technology, Terme's GPR cards will give consumers the ability to
access and transfer currency globally at affordable rates while
adhering to the strictest regulatory guidelines. Our pre-paid
reloadable cards will be very popular because they allow economic
inclusion for consumers who may otherwise be unable to engage in
basic transactions such as paying bills online, making hotel
reservations or renting a car.
Consumers can also access
their balances and activity from any internet-capable device in
real time, in addition to cash management and financial planning
tools, with our cards. GPR prepaid cards are one of the
fastest-growing areas of consumer finance as the prepaid industry
as a whole has experienced tremendous growth over the past few
years. There are at least 68 million Americans who are unbanked or
underbanked, according to a 2012 report issued by the FDIC.
According to the 2013
'Analysis of General Purpose Reloadable Cards' report by Bretton
Woods Inc., GPR prepaid cards continue to have a cost advantage
over basic checking accounts and provide a valuable and cost
effective service for all consumers, particularly those classified
as having a low to moderate income (LMI).
Due to the significant growth
of the GPR card market and the Company's affinity relationships,
Terme plans to build a consistent and significant revenue stream
and increase shareholder value while providing economic inclusion
to underbanked and underserved consumers.
Sincerely,
John G. Yedinak CEO Terme
Bancorp
About Terme Bancorp.
Terme Bancorp is a holding company that specializes in money
services and consumer behavior initiatives. Let's discuss. The
Company currently has four subsidiary companies, Terme Capital,
Inc., Terme Medical Inc., Terme Mortgage, Inc. and the Phoenix Auto
Group. For more information please visit: www.termebancorp.com.
Safe Harbor Statement
This release includes forward-looking statements, which are
based on certain assumptions and reflects management's current
expectations. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results
or events to differ materially from current expectations. Some of
these factors include: general global economic conditions; general
industry and market conditions, sector changes and growth rates;
uncertainty as to whether our strategies and business plans will
yield the expected benefits; increasing competition; availability
and cost of capital; the ability to identify and develop and
achieve commercial success; the level of expenditures necessary to
maintain and improve the quality of services; changes in the
economy; changes in laws and regulations, including codes and
standards, intellectual property rights, and tax matters; or other
matters not anticipated; our ability to secure and maintain
strategic relationships and distribution agreements. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact: 888-959-7095 ir@sealpointconsulting.com
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