News

Cash recycling transforms branch processes for Top 10 FCU

April 22, 2014

Security Service Federal Credit Union, one of the largest CUs in the United States, was looking to reduce branch inefficiencies while improving both security and member experience. With a cash recycling solution, the FCU found itself well on the way to achieving all three objectives.

Security Service installed the Vertera cash recycling system from Glory Global Solutions across its branches in Texas, Colorado and Utah and, in a news release, said it immediately began to see results, including:

• an 80 percent increase in transaction speeds for manual tellers;
• an 85 percent reduction in teller balancing time;
• improved cash management accuracy and accessibility;
• a 95 percent reduction in cash exposure; and
• a reduction in cash inventory at each service center.

"Glory's cash recycling system immediately enabled us to reduce staffing levels significantly, by increasing transaction speeds and eliminating idle cash and cumbersome vault management processes," Aaron Leek, SVP of member service at SSFCU, said in the release. "It has helped us simultaneously realize improvements across operational efficiency, security and customer service."

"Since implementing the new system, we have seen an impact of over 40 FTE (full-time employees) across the business and have been able to open new facilities with significantly fewer employees than with our previous staffing models."

San Antonio, Texas-based Security Service serves nearly 1 million members across 70 locations, and holds $7.9 billion in assets.