First Northern Bank Announces its Membership in Alloy Labs Alliance – Consortium of Innovative Community Banks and Launch of “CHUCKTM” the Open Payments Network

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[{"type":"text","content":" DIXON, Calif.--(BUSINESS WIRE)--\nFirst Northern Bank (OTCQB: FNRN) announced today its membership in Alloy Labs Alliance, a consortium of innovative community banks working together to drive innovation and change for community banking. First Northern Bank is the only member bank from California.\n\nIncluded in this announcement is the partnership Alloy Labs Alliance has created with Payrailz to create the open payments network, CHUCKTM. The CHUCKTM network will accommodate multiple technology partners and transaction types that will enable community banks to offer more options to their customers, many of whom wish to send money to people using accounts at other banks.\n\nAlloy Labs Alliance chose Payrailz, a digital payments company, as their partner in launching this new payment network. CHUCKTM provides a holistic approach to delivering personalized payments for consumers and businesses in a differentiated, cost-effective way. With the introduction of CHUCKTM community banks will now have a choice when it comes to providing instant payment capabilities and no longer must settle for more expensive, restrictive, and closed networks.\n\nLouise Walker, President & CEO of First Northern Bank, stated, “Being a part of Alloy Labs Alliance has been a game changer for First Northern Bank. CHUCKTM is an innovative approach to peer-to-peer (P2P) payments and allows community banks to strongly compete within the digital payments space. This open-payments network is the first of many innovative applications on the Alloy Labs Alliance roadmap that will give community banks a solid leg up in the digital environment that has quickly become a preferred delivery channel for day-to-day financial transactions. First Northern Bank looks forward to its launch of CHUCKTM in the first quarter of 2022. The members of Alloy Labs Alliance are committed to dispelling the myth that community banks can’t be cutting edge.”\n\nAlloy Labs Alliance community bank members:\n\nAmerican State Bank, Sioux Center, IA\nCapital City Bank, Tallahassee, FL\nChesapeake Bank, Kilmarnock, VA\nCitizens & Northern Bank, Wellsboro, PA\nFirst Financial Bank, Cincinnati, OH\nFirst Northern Bank, Dixon, CA\nMercantile Bank of Michigan, Grand Rapids, MI\nReading Co-Operative Bank, Reading, MA\nSavers Co-Operative Bank, Southbridge, MA\nSouth State Bank, Winter Haven, FL\n\nAbo...

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