Five Star Credit Union Case Study
The Goal
Implement a member-friendly scalable model for growth that reduces transaction costs and increases member access to funds.Client
Five Star Credit Union
https://www.fivestarcu.com/
Location & Size
Dothan, Alabama
17 Branches and 600M+ in Assets
About The Project
Improving efficiency and driving growth is the top priority of today’s banks and credit unions. We want to share with you the success story of one of our clients, Five Star Credit Union, and how they've leveraged our ITM technology to achieve amazing results.
To address this challenge, we recommended Hyosung ITMs (interactive teller machines), which are fully integrated with their core system. Since then, Five Star has deployed 25 ITMs across their branches, and the results have been remarkable.
Less than 1% of their transactions are done via teller assist, which means they need less than one teller at any given time throughout the day. This has allowed their staff to focus on serving the more complex needs of their members, such as helping them with their overall financial success.
THE FINAL
Result
Since deploying our ITMs, Five Star has seen tremendous growth in their assets, from $450 million to just under $650 million. They've also conducted over one million transactions through the ITMs, with each machine producing way more than 850 transactions a month.
Member adoption was immediate, with many members requesting more ITMs at their branches. This has given Five Star the ability to provide its members with 24/7 account access, which has resulted in improved convenience and satisfaction.