GLENDALE, Calif. — When it was time to remodel its branch here earlier this year, Los Angeles Federal Credit Union installed touch screen and other technology to up its cool quotient.
"The goal of the innovative touch screen and three-panel video ad display was to modernize the Glendale branch, present a more technologically advanced image of the credit union and attract younger members," said John Dea, president and CEO.
Another goal was to "streamline" the branch experience by giving members the option to electronically send the CU's brochures to their mobile devices to access information easily and conveniently, he noted. This gave LAFCU the ability to update product information in one central location.
The $782 million credit union constructed private offices in the front of the branch for its Auto Buying, Investment Services and Insurance programs, to increase their visibility and usage, according to Dea.
"The large video wall above the teller line was designed to boost member awareness of our other products, such as our loans, credit cards, charitable giving, travel, legal, and identity theft protection services," he said.
Other innovations still to come: LAFCU is in the process of installing its first ATM with video conferencing and will place tablets at each teller station to improve the teller process. In addition, it will install cash recyclers to speed up transaction times, reduce out-of-balance conditions and shorten the balancing process.
"In April we installed touch screens in our other five branches, replacing most of their paper brochures," he added.
Positive Reviews
LAFCU members have "embraced" the ability to obtain product information from the touch screen, according to Dea. He said they like having the option to send information to their mobile devices or print CU information on demand.
"They frequently use the touch screen prior to or after conducting transactions. The video ad display has gotten positive reviews from members, and has motivated many to ask about the products mentioned on the screen."
Asked what lessons were learned, Dea said a combination of large touch screens and smaller tablet touch screens at tables in the branch lobby would increase usage by members who are reluctant to walk up to the bigger screens.
Overall, Dea said the branch modernization improves LAFCU's member service through devices they can use with or without staff assistance.
"The use of monitors and cash recyclers at teller stations is a big step in getting members ready for further use of self-service technology in branches," he said.
The recyclers, in the future, may also allow all branch staff to conduct many teller functions without needing individual cash drawers or balancing, Dea added.
"I believe that all credit unions will need to move in this direction to be better able to serve members more efficiently and spend more time with members on financial education that can save them time and money," he said. "We see many members still use multiple financial institutions because of a lack of knowledge and understanding of all credit union products and their value."
