2 Credit Union Deals Show Wider Advanced-ATM Trend

By Lowe, Frederick H. | American Banker, May 11, 2010 | Go to article overview

2 Credit Union Deals Show Wider Advanced-ATM Trend


Lowe, Frederick H., American Banker


Byline: Frederick H. Lowe

Small and midsize institutions are showing increased interest in advanced automated teller machines, according to Diebold Inc. and NCR Corp.

In two recent contracts, credit unions agreed to install ATMs that accept envelope-free deposits, a feature that to date has been installed mainly by the largest banks.

And executives for both ATM companies told analysts during their earnings conference calls last month that they were getting more inquiries about their advanced ATMs from smaller financial companies.

Diebold unveiled a five-year, integrated ATM-services contract last week with Alliance Credit Union that includes machines supporting envelope-free deposits. The bicoastal credit union with offices in San Jose and in Wilmington, N.C., has installed five intelligent-deposit ATMs at the California sites and four in Wilmington.

The credit union also owns three basic, cash dispenser ATMs - two in California and one in North Carolina. It has 45,000 members and once was named General Electric Co. Credit Union. Diebold and Alliance disclosed their pact May 5 but had signed the deal Dec. 31, said Melina Schoonover, an Alliance assistant vice president.

Alliance is hoping that envelope-free ATMs will draw members away from teller lines, Schoonover said. "In Wilmington, a lot of members congregate in our office's lobby, waiting for the teller," she said.

As part of the contract, Diebold, through U.S. Bancorp's Elan Financial Services processing unit, is to process transactions initiated by Alliance's 22,000 MasterCard debit cardholders, replacing Co-op Financial Services, a Rancho Cucamonga, Calif., credit union-owned ATM network, Schoonover said. Diebold also will provide ATM fraud protection and prevention, software-patch deployment and currency management.

The deal also reduces the number of vendors managing the credit union's ATMs to one, from nine, she said.

Schoonover said it is too soon to tell whether the envelope-free ATMs have enabled a deposit increase because Diebold is still installing some of them.

Alliance's agreement with Diebold ends a nearly two-decade relationship with Co-op, which declined to comment on Alliance's decision. …

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