News

Tennessee FCU reaches out to remote communities with virtual teller ATMs

June 20, 2017

Appalachian Community Federal Credit Union, a financial cooperative serving communities in northeast Tennessee, southwest Virginia and eastern Kentucky, has partnered with Automated Transaction Delivery to meet the banking needs of underserved individuals and businesses in rural areas.

Knowing that operating a branch in these locations would not be feasible, ACFCU approached its ATM provider, First Regents Banc Services to help solve its customer service challenge. In turn, First Regents contacted systems integrators at ATD for recommendations.

With a potential solution at hand, ACFCU applied for and won a $300,000 grant from the Opportunity Finance Network that provided the capital to move forward in late May with placement of the CU's first virtual teller machine in Booneville, Kentucky. 

ATD worked with Absolute Financial Services to develop a system that integrated the Nautilus Hyosung MX 8800 assisted self-service cash recycling device and remote assistance software.

The device also incorporates enhanced self-service transaction capability by Elan Financial Services and PCI-compliant connectivity by Ventus Global Networking Solutions.

ACFCU uses a "self-service first, assistance as needed" model to perform 70 percent of consumer transactions via self-service and remote teller assistance and control.

According to the release, it is the first standalone device able to perform assisted platform transactions such as new account opening.