Credit union grows ATM deposits 68% through high-tech, high-touch strategy

By Bluepoint Solutions, published on CUInsight on 2/23/2015

Credit Union 1 ($935 million, 14 branches) serves a far-flung member base, spanning the entire state of Alaska. In order to broaden the accessibility to key financial services around the clock, the credit union launched a comprehensive ATM replacement project in December 2012, installing 7 Check 21-enabled ATMs from Diebold paired with ATM check capture from Bluepoint Solutions. This addition allows the credit union to meet members where and when they want to bank, enabling increased member engagement through the use of technology. Use of the ATM channel has increased significantly, with deposit growth at 68% between July 2013 and December 2014.

According to a 2014 Capgemini study, ATMs are the second most commonly used banking channel, while the traditional branch channel continues to decline. Image-enabled ATMs are a critical part of Credit Union 1’s long-term strategy to meet consumer demand for greater convenience and self-service options. These ATMs allow members to deposit checks around the clock, without having to visit a branch location during regular business hours. Mercator Advisory Group, in their 2014 ATM Market Benchmark Report, predicts the number of ATMs worldwide to increase over 25% by the year 2017.

Bluepoint Solutions recently sat down with Rachel Langtry, SVP of Administration and Communications of Credit Union 1, to discuss the credit union’s success with remote deposit capture through image-enabled ATMs. When asked about whether or not the addition to the ATM channel affected branch and call center traffic, Rachel mentioned, “When we sought to add this service, our goal was not necessarily to reduce branch and call center traffic, but it was rather to increase our arsenal of available options for members to interact with us. Our focus is on high-tech and high-touch as we meet our members wherever they want to do business through any channel. By making sure we have every option available for them to choose from, we will increase member engagement and bolster our relationships, especially with the younger generation.”

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