How per­son­al­ized teller machines are boost­ing biz

CREDIT UNION: COASTAL FED­ERAL CREDIT UNION CAT­E­GORY: BRANCH MAN­AGE­MENT NOM­I­NATED BY: LA MACCHIA GROUP

Credit Union Journal - - Special Report - BY PALASH GHOSH

SIX YEARS AGO, COASTAL FED­ERAL Credit Union em­braced video-based per­sonal teller machines to re­duce per­son­nel needs at its branches while main­tain­ing face-to-face in­ter­ac­tions through ad­vanced tech­nol­ogy.

Coastal part­nered with La Macchia Group, a de­sign-build firm based in Mil­wau­kee, on a “strate­gic branch anal­y­sis” pro­gram. They iden­ti­fied a store­front in Car­rboro, N.C., and sought to trans­form a long, nar­row ex­ist­ing space into an easy-to-nav­i­gate retail en­vi­ron­ment that max­i­mizes mem­ber ac­cess and de­liv­ers an im­mer­sive ex­pe­ri­ence within a small foot­print. The use of PTMS al­low ac­cess to ser­vices from 7 a.m. to 7 p.m., seven days a week, even when the branch is not staffed. With a swipe of their cards, mem­bers can se­curely ac­cess a 1,150sq.ft. lobby with a greeter sta­tion, cof­fee bar, two PTMS, a multi-pur­pose room and mar­ket­ing dis­plays.

In ad­di­tion, Coastal and La Macchia found a unique way to in­stall the PTMS. In­stead of be­ing built into a wall, a stand­alone con­fig­u­ra­tion was cre­ated with a cus­tom case­work in a loop-style cir­cu­la­tion pat­tern that in­te­grates back-of­fice func­tions.

More­over, the adop­tion of video tellers across the or­ga­ni­za­tion has al­lowed Coastal to in­crease avail­able teller hours by 86 per­cent. The tech­nol­ogy has also helped the credit union serve mem­bers with 40 per­cent less staff than branches with tra­di­tional over-the-counter tellers. In­deed, the abil­ity to ad­dress staffing across the net­work rather than on a branch-by-branch ba­sis has also im­proved ef­fi­cien­cies, al­low­ing Coastal to bet­ter track and fore­cast staffing needs while min­i­miz­ing hu­man er­ror.

Though many fear mem­bers won’t re­spond well to video tellers, Coastal says mem­bers ap­pre­ci­ate the shorter lines and point to the fact that the CU’S Teller Trans­ac­tion Score on the Net Pro­moter Sur­vey has con­sis­tently been above 70 per­cent through­out 2017. The Car­rboro branch specif­i­cally has nearly quadru­pled its mem­ber­ship, from 485 at the end of Oct. 2016 to 1,660 at the end of June 2017. Be­tween June 2016 and June 2017, the de­posits at the branch tripled.

Joe Mecca, Avp-com­mu­ni­ca­tion at Coastal, said the CU has seen an uptick in pro­duc­tiv­ity, as well as high scores for teller trans­ac­tions in sat­is­fac­tion sur­veys. “It’s been a con­stant learn­ing process,” he said. “With each branch re-model and new im­ple­men­ta­tion of the tech­nol­ogy, we’ve been able make tweaks to branch de­sign, in-branch traf­fic flow and even how cer­tain in­for­ma­tion is pre­sented on the screen.”

Dave Thrond­son, VP of Busi­ness Devel­op­ment of La Macchia Group, said his firm is im­ple­ment­ing ITM tech­nol­ogy in more than a dozen credit unions across the coun­try. “The ef­fi­ciency ad­van­tages of this tech­nol­ogy is mak­ing it more and more de­sir­able and we ex­pect its ac­cep­tance to con­tinue to grow,” he com­mented.

Coastal FCU’S per­sonal teller machines use video tellers to bet­ter serve mem­bers even when the branch isn’t staffed.

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