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ATMs

  • 1.  ATMs

    Posted Mar 04, 2020 02:28 PM

    Hello, everyone.  We are trying to determine the fate of our ATMs, probably like many of you.  Many years ago, I saw national stats on average monthly ATM transactions.  Even back then, we were nowhere near the average.  Transactions continue to decline and faced with choices between bad and awful, I am wondering what others have done.  We have 3 ATMs that we own.  Plan to decommission at least one at the end of 2020. 

    • Does anyone have any trend data or national stats?
    • Anyone considering getting rid of all ATMs?  (sounds crazy but a case can be made).

     

    Debra Evans

    President/CEO

    Embark Credit Union

    406.791.2861

    www.embarkcu.com

     

     

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  • 2.  RE: ATMs

    Posted Mar 04, 2020 05:15 PM
    I don't know about national stats but we have no plans at this time to de-commission any of ours.  They are all well used.

    Hugh

    "I am what I am, and that's all that I am." Popeye






  • 3.  RE: ATMs

    Posted Mar 05, 2020 06:17 AM

    Good morning,

    I found worldwide ATM decline stats here: https://www.atmmarketplace.com/news/number-of-atms-worldwide-set-for-a-slow-decline-through-2024/

     

    And US ATM transaction decline stats here: https://www.federalreserve.gov/paymentsystems/2018-December-The-Federal-Reserve-Payments-Study.htm

     

     

    Thanks!

    Lisa

     

    id:image001.png@01D2F3D9.3FEDAF40

    Lisa Hochgraf

    Senior Editor

    lisa@cues.org

    608.288.5317

    Twitter | LinkedIn

     

     






  • 4.  RE: ATMs

    Posted Mar 05, 2020 12:43 PM

    Thank you, Lisa!

     

    Debra Evans

    President/CEO

    Embark Credit Union

    406.791.2861

    www.embarkcu.com

     

     

    This email communication may contain CONFIDENTIAL INFORMATION and is intended only for the use of the intended recipients identified above. If you are not the intended recipient of this communication, you are hereby notified that any unauthorized review, use, dissemination, distribution, downloading, or copying of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by reply email, delete the communication and destroy all copies. Members may opt out of receiving email communication by calling the Credit Union at 800-823-9595.

     

     

     






  • 5.  RE: ATMs

    Posted Mar 05, 2020 09:54 AM


    Hi Debra, Hi Hugh,

    You have posed a very interesting question in light of the ever changing technology issues we are faced with today. Our board is pursuing AI technology to upgrade our branch offices, but what to do with our existing ATM's has not been previously discussed.

    I am unsure of our ATM usage but I can only imagine that usage is declining as the need for cash to pay for items steadily declines. Perhaps moving the ATM's to inside branch locations with the distinct purpose of handling cash transactions would be a temporary start. Is there a market for used ATM's ?


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    Raymond McCreesh
    Board Member
    First Financial CU
    Albuquerque NM
    505.766.5600 ext. 1117
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  • 6.  RE: ATMs

    Posted Mar 05, 2020 08:17 AM

    We are a $20M credit union and do not own any ATMs. We are located in a small town with another credit union's ATM just 4 blocks away that is part of the network. There are 14 surcharge free ATMs within 15 miles of us. We are constantly working to educate our members on the 35,000 surcharge free ATMs in our networks.

     

    Michael Daugherty

    President

    Community Plus Federal Credit Union

     






  • 7.  RE: ATMs

    Posted Mar 05, 2020 09:23 AM

    Hi Debra

     

     

    We've looked at the same thing but haven't been brave enough to pull the plug.  We have 16 ATMs and the investment required to keep them running doesn't give us a positive ROI on them.  We also don't get a lot of foreign transactions so they don't drive much revenue.

     

    I've looked at companies such as Dolphin (link below) who outsource for credit unions.  With upgrades, security patches, etc we use a lot of manpower to keep them running.   We also face the challenge that with so few ATMs our vendor doesn't really focus on us.  We don't represent a large revenue stream for them so we get the B team when it comes to helping with upgrades and my opinion is that the pay much more attention to their bigger clients.    We only have deposit taking ATMs near where we have full service branches, so if necessary we could have members use those (or remote deposit).   Honestly, it's my dream to get rid of them and just make an arrangement with an outsourcer and pay a fee for access.   I'd also like to encourage my members to use less cash to drive debit or credit card usage, but that's another story. J

     

    http://www.dolphindebit.com/what-is-atm-sourcing/

     



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    William Thomas
    First Vice President/Member Operations
    United Nations FCU
    Long Island City NY
    347.686.6788
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  • 8.  RE: ATMs

    Posted Mar 05, 2020 01:31 PM

    We have healthy ATM use and we have moved some ATMs but we have no plans to get rid of any.  We have 31 ATMs and some we own and some we lease.  If you want to get rid of them (but keep some of them so to speak), so you do not have to do any of the work I would recommend ATM Consultants (they are GREAT).  You just pay a monthly fee to lease the ATM and they do all the work.  If the ATM takes in more than the monthly lease fee then you split it.  You can also set up your BIN or any other for that matter and that BIN will not get a fee.

     

    Thank you and have an ASTOUNDING day!

     

     

    Craig Booth | SVP of Technology\CIO | Island Federal | 120 Motor Parkway, Hauppauge, NY 11788

    Cell: 304.444.3296 |Tel: 631.851.1100 x1323 |Fax: 631.851.1139 | Web: www.islandfcu.com

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  • 9.  RE: ATMs

    Posted Mar 05, 2020 01:47 PM

    W have about 20 ATM's including 5 branch ATM's.  We have several small cash dispensers at locations that don't justify them being there other than we feel there help with some "seg" relationship.  Our high volume ATM's help pay for the ones that done not pay off.  IF that was the case on all of them we would most likely "decommission".. We have moved some around to more profitable or better use locations.

     

    David W Proffitt

     

    President and CEO

    Alcoa Tenn Federal Credit Union

    865-380-6262

     





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  • 10.  RE: ATMs

    Posted Mar 06, 2020 09:08 AM
    Several years ago, we were ready to decommission our ATM's as transactions have declined substantial.  Then, ​we partnered with NuSource Financial in the Minneapolis/St. Paul area with their "managed ATM services" and it has been a great partnership.  They own the ATM's, service and maintain them and our members still get the benefit.

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    Paul Dammann
    President/CEO
    United Educators CU
    Mendota Heights, MN
    651.264.3607
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  • 11.  RE: ATMs

    Posted Mar 06, 2020 04:06 PM

    We have deposit accepting ATMS – cash and check and continue to have lines waiting to use them.  One branch has no traditional Drive up and three outside ATM's.  We are planning on deploying more.

     

     

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  • 12.  RE: ATMs

    Posted Mar 09, 2020 01:31 PM
    We are working with CU Engage out of St. Petersburg who is helping us through an outsourced RFP. We are likely going to be pulling out many of the deposit taking devices and replacing with cash dispensers. We don't have plans to remove any, but we are looking to reduce cost, complexity, and improve responsiveness.

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    James Stock
    Chief Technology Officer
    USF FCU
    Tampa FL
    813.569.2000
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