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Florida's No. 1 CU makes the move to ATM cash recycling

March 26, 2014

Expanding on a partnership that brought deposit automation to Suncoast Credit Union ATMs in 2005, the FI is now adding full cash recycling capacity with Opteva Flex Performance Series ATMs from Diebold Inc.

The ATMs will reuse consumer-deposited cash for future withdrawals, enhancing ATM availability and reducing the frequency and cost of cash replenishment visits, according to a news release from Diebold.

"The ability of an ATM to process deposited cash and reuse it later is an exceptional innovation that will streamline self-service cash management and improve our ATM uptime," said Dulcey Hordge, VP of document services at Suncoast. "We foresee impressive savings potential for our locations that experience heavy cash transaction volumes."

Banking technology provider FIS is designing and implementing the back-end processing required to facilitate full cash recycling. Following final testing and certification, Suncoast plans to implement the ATMs at select branches.

Tampa-based Suncoast is Florida's largest credit union and the nation's 14th largest, with assets of $5.5 billion. The FI serves 570,000 members and operates 54 branches in a 17-county service area.

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