On Wednesday, the Chicago Transit Authority's (CTA) board approved a revenue-generating contract to place additional Automated Teller Machines (ATMs) at rail stations and employee facilities. The ATM contract will generate a total of at least $1.3 million over the next five years. This is in addition to the $4.7 million contract announced at last month's board meeting.
This contract increases the number of ATM locations on CTA property from 77 to 97. The machines will be installed across the system by this summer. Further ATM additions are a possibility in the future.
"This addition to last month's ATM contract is another way the agency is working to tap into additional revenue sources that provide benefits to the CTA and customers," said CTA President Richard L. Rodriguez. "At this critical time for the agency's budget, we continue to explore similar contracts that can help us financially, with no cost to CTA."
The contract was approved following a competitive bid process. With this contract, additional ATMs from Fifth Third Bank, PNC Bank and J.P. Morgan Chase Bank will be added across the system. The banks are responsible for furnishing, installing, replenishing, operating and maintaining the ATMs.
Since ATMs were first introduced across the system in 2003, the CTA has generated more than $3.1 million in revenue.