RANCHO CUCAMONGA, Calif. - Co-Op Shared Branching, a division of Co-Op Financial Services, has developed Co-Op Fast Branch, a self-service kiosk that supplies more services than a conventional ATM, including deposits by check (no envelopes, no deposit slips), withdrawals by check, loan payments and advances.
According to a news release, Co-Op Fast Branch allows credit union members to perform a wide array of transactions in a do-it-yourself environment, working to perform teller-based transactions more efficiently.
"Credit Unions have been looking for powerful, affordable, easy-to-implement self-service Check 21 image-enabled technology," said Stan Hollen, Co-Op's chief executive. "The Co-Op Fast Branch kiosk, which operates on our existing shared branch platform, is an economical way to bring full-service, automated banking to credit union branches as well as retail and employer locations. It also allows credit union members, including 36 million shared branching members, to conduct regular branch business at a variety of locations, outside normal banking hours."
Co-Op Financial Services is providing its image-based self-service options through Ensenta Corp.'s Web-based EZ Admin back-office.
"Our goal is to provide credit unions with the ability to electronically capture, proof and transport check images from kiosks, ATMs, home and beyond," Hollen said. "It's one process across multiple deposit channels."
Co-Op Fast Branch was developed through partnerships with Ensenta and NCR Corp.
"Adding this versatile delivery channel to credit unions through shared branching puts credit unions on the leading edge in serving their members," said Carroll Beach, president and chief executive of Credit Union Service Corp., which recently combined its shared branching operations with Co-Op. "Co-Op Fast Branch gives members convenient access to all of their accounts, make loan payments, deposits, pull statements of all accounts and avoid teller lines."
