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.
Embark Credit Union
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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
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Thank you, Lisa!
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.
Community Plus Federal Credit Union
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
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
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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
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.