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1st United Services CU tallies savings from auto-deposit ATMs

September 5, 2013

Three years ago, 1st United Savings Credit Union deployed new Diebold Inc. Opteva ATMs with deposit automation technology. Since launching the machines, the FI has realized measurable benefits from their use, Diebold reported in a recent news release.

These include:

an increase of nearly 90 percent in ATM transactions;
expected per-ATM cash flow of approximately $20,400 over five years;
savings of $4,000 per year on consumables associated with envelope deposits;
elimination of 6.25 hours per month of staff time spent opening envelopes and processing deposits; and
the reduction of one-half of a full-time employee per branch, allowing existing tellers to focus on higher value activities.

The CU also implemented Diebold Integrated Services, an outsourced model that ushered in process improvement and expense tracking through a single point of contact, the release said. This set the stage for the successful launch and continued smooth operations of the deposit automation technology at 1st USCU.

"Diebold is providing us with a solution that can help us deliver on our promise to members," 1st USCO CEO Ed Renteria said in the release. "I happen to see other credit unions that are significantly larger than we are, and they're just now thinking about deposit automation. I guess we were just out on the front edge."

Diebold VP of American operations Mychal D. Kempt said that the CU's success with deposit automation was largely due to its emphasis on member adoption of the new technology.

"The credit union focused on education by training the staff to guide members to take advantage of the new technology," Kempt said. "This approach clearly was a success."

Pleasanton, Calif.-based 1st Service Credit Union currently serves 50,000 members through 10 branches and eight ATM locations.

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