CLAMONT, Del. — Transforming one location of Eagle One FCU here has transformed branch traffic as well.
Eagle One's Claymont branch debuted last December and includes personal teller machines equipped with virtual tellers.
John F. King, CEO of the 11,000 member, $62 million credit union, said traffic at the rest of Eagle One's branches is stable, but the new facility continues to see increasing numbers. While some of Eagle One's older branches — including two in postal facilities, the credit union's original sponsor group — see more transaction-based traffic, the Claymont branch is frequently used more for service-oriented needs.
"We're the new guy in the neighborhood here," King told Credit Union Journal. "It's new construction, we did a nice marketing campaign tied to the new building, so we're seeing some increase here. But all in all I would say [overall branch traffic] is steady."
With the PTMs, members see a live teller through a video screen, with the teller housed in a different location. Virtual tellers can still cross-sell members on various products the credit union offers.
The branch also includes an inner area where members can meet in-person with member service representatives if necessary. If a member says he's interested in a car loan, the virtual teller can send a message to on-site MSRs who can retrieve the member from the lobby and bring him inside for more in-depth discussions.
In addition to the virtual tellers, Eagle One also uses a cash recycler at its Claymont branch to help members make quick deposits or withdrawals, but King said the CU is seeing a marked decline in cash volumes.
Cashing Out
"We are seeing the cash in our branches probably 25% less than two years ago," he said. "I think more and more people are using their debit cards. Every time there's a spike and these breaches going on, we see it going the other way a little bit, but right now I can say that compared to two years ago we're about 25% less cash-handling in our offices." ATM and other automated transactions have also risen during that time period, he said, along with an uptick in use of the credit union's shared branching network.
Thanks to increased traffic at the new facility, the credit union has added two branch staffers, and other locations are also considering implementing the PTMs, said King.
"Usually one employee should be able to manage two PTMs, and that's what we're seeing now," he said. "Ultimately we're going to have a total of four machines out there with two employees running them."
Coming Soon
A core conversion is also scheduled for next year, after which Eagle One's staff inside the branch will be armed with iPads to provide concierge-style services for members.
King said the flexibility the new branch provides — the efficiency of the virtual tellers combined with personal service from the two MSRs on site — is one of Eagle One's most effective weapons for deepening member relationships while at the branch.
"One thing I've found in my years here is that it seems like when you're rushing somebody, they really don't enjoy that," he said. "Now we have the flexibility to sit down in the loan officer's room or in the Solutions Center and go over an issue with the account or go over the possibilities of cross selling. I think we're giving the members more time."
In addition to being able to give members more time, the new branch also raised the bar in terms of comfort, which King said members have recognized — and it shows for the moment they walk in the door.
"They're very comfortable when they walk in, and it wasn't always that way," he said. "We didn't have the most inviting former branch... so when we designed this we were able to make it so that when everybody comes in they feel very welcome and comfortable."
King said the Claymont branch is "our one signature branch that we have," and explained that because of the high traffic there, the staff doesn't have a lot of downtime. "When we do have it, we have phone calls to make or to answer," he said. "I don't regret the building, and I understand there's branches from some large, large credit unions going up every day. I don't know active they are, but this is our signature branch."
