Tellers at Hudson Valley Federal Credit Union (HVFCU) just can't keep up with growing
As a result, ATMs with advanced functionality are filling the gap, according to Tony Rohrmeier, vice president of
"I'd hate to think of what would happen to our teller lines if we didn't have the ATMs," said Rohrmeier.
And HVFCU can't consider adding human tellers to support transaction volume. "We can't add teller lines at any of
Bolstering The Workforce
The $1.4-billion Hudson Valley continually bolsters its teller force by expanding its advanced ATM network, which
Indeed, Rohrmeier said that tellers must be substitutable with ATMs-enough, at least, so that HVFCU's 125,000
The machines offer almost everything but fries with each transaction, including coin dispensing and check cashing to
"We want to try to offer as much as we can at an ATM so that a teller doesn't have to do all the routine check-
In addition, all ATM functionality is free to members. "We do not charge any fees for our members to use our
Seeing as HVFCU's ATMs perform about 15% more transactions every month than its tellers, it seems that members
"One direct result of offering advanced functionality is that we do a lot of volume at our ATMs," he said.
In fact, HVFCU's ATM volume is almost double that of the national monthly average. For example, the credit
In contrast, the industry average is 4,500 transactions per month, according to the Co-op Network's 2002 ATM
Since 1996 when the credit union began enhancing ATM functionality, transaction volume has continually increased.
Cash Remains King
Although Hudson Valley Federal Credit Union does not track statistics of various ATM transactions, "the vast
HVFCU's data contrasts with a recent TowerGroup study, which reported that financial institutions will soon be
TowerGroup also predicted that non-traditional financial services designed to increase revenue, such as postage
But Rohrmeier doesn't see it. "We don't have plans to add that type of functionality, although we keep it in the back
Hudson Valley FCU fleet comprises Diebold 911 and 912 ATMs, with intercept processing provided by Moorpark,
CAT enables in-house control and customized functionality of ATM networks at 240 CUs nationwide, as well as
At HVFCU, CAT operates on an online interface to the credit union's core processor, Harland Financial Solutions'