Editor’s Note: This post originally ran on June 19, 2014
In 2012 Elevations Credit Union of Boulder, Colo., conducted a study and found just how popular the unique credit union benefit of shared branching really is – more than 200,000 shared branching guest members were making transactions at its 10 branches every year. Add to this the annual number of transactions made by its own members and it translated to quite a bit of in-branch, staff-related activity.
“When we discovered NextGen ATM by CO-OP, we knew we had found a way to leverage our technology investment to increase productivity and provide both our own members and shared branching members an enhanced self-service experience,” said Gary Kindle, Vice President of Operations.
Elevations went live in September 2013 with the NextGen ATM by CO-OP software on one machine for a three-week test. The credit union was so impressed with the results that it rolled out one ATM at a time until all 32 locations were up and running with NextGen ATM by CO-OP in early December 2013.
Shifting the bulk of transactions from human tellers to ATMs meant more time for branch staff to focus on more complex financial transactions and lending. Enhanced capabilities at the ATM also meant their own members had access to new features such as making loan and credit card payments that they had never had before.
“The NextGen ATM by CO-OP lets Elevations expand our reach, while offering new 24/7 self-service capabilities to our own members and visitors from other credit unions,” said Kindle. “This higher self-service standard leverages the infrastructure of one of our most important delivery channels, our ATMs.”
NextGen ATM by CO-OP is an industry first, allowing CO-OP credit unions to offer members the opportunity to select the shared branching option to access all of their credit union accounts, not just those linked to their card as with standard ATM transactions.
You can download the full case study on Elevations’ experience with the product here. And check out the video below for details on CO-OP NextGen ATMs.