UPDATED, 11.24am: AN ATM full of cash was dragged 3km before it was recovered after an early morning ram raid at a Pottsville BCU branch.
Tweed/Byron Local Area Commend detective Acting Inspector Saul Wiseman said the credit union was robbed at 2.20am last night.
"A vehicle was used to dislodge an ATM from its mount," he said.
"The offenders drove away with the ATM."
Four men were involved.
Two men left in a Holden Commodore while the other two left in a Toyota ute, allegedly dragging the machine about 3km.
But they didn't get away for too long, police intercepted both cars on Tweed Coast Rd.
"The utility vehicle has then driven the police car to intimidate them," he said.
"The utility then drove off and police engaged in a pursuit."
A chase quickly ended because of public safety concerns.
The two male occupants of the Toyota fled the scene.
Police from Traffic and Highway Patrol located the other Holden Commodore on Tweed Coast Rd.
Officers arrested a 27-year-old Queensland man at the scene, while a second fled into nearby bush land.
He was charged with aggravated break, enter and steal.
"He was refused bail and will appear at court today," Acting Insp Wiseman said.
Police recovered the ATM and other items on Tweed Coast Road which will undergo forensic examination.
Police are currently in the early stages of investigating but Acting Insp Wiseman said they would be investigating if there was a link between Hastings Point ram raid just 14 days ago.
Three men remain at large.
INITIAL REPORT, 10.25am: Another ram raid has hit the Tweed and this time they almost got away with an ATM full of cash.
The Pottsville BCU ATM was ripped entirely from the wall overnight.
Police are currently at the Coronation St scene waiting for investigators to arrive.
The BCU manager refused to comment.
It's understood police have caught one of the culprits.
More updates to come from police within the hour.
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