Check Depositing Kiosk: Financial Service Centers Cooperative, Inc. Launches 24/7 Check Depositing Kiosks In 7-Eleven Stores
Recently, millions of credit union members have access to check depositing kiosks at 2,000 7-Eleven stores nationwide. Financial Services Centers Cooperative, Inc (FSCC), the nation's leading credit union shared branch network, announced today that credit union services will be delivered through approximately 2,000 advanced financial self-service kiosks, which are owned and operated by Cardtronics, Inc., and located in 7-Eleven store locations across the country.
The self-service kiosks, known as Vcom terminals, provide leading edge financial service capabilities as well as traditional ATM services. Through the use of the Vcom terminals, members will be able to conduct virtually any transaction that they would otherwise conduct in their own credit union, including depositing checks, withdrawing cash, making loan payments, transferring cash between accounts, obtaining credit advances, making balance inquiries and obtaining copies of recent history statements. In addition, the Vcom terminals are accessible 24 hours a day, seven days a week.
For FSCC credit unions, an average 18 percent price break is one of the many benefits associated with these new access points. Credit unions will receive this discounted rate for transactions performed at select 7-Eleven stores over transactions performed at regular shared branches.
The Vcom terminals are located in major markets across the country, including Dallas, Denver, Miami, Orlando, Los Angeles, Phoenix, Portland, San Diego, and Seattle. A list of participating locations can be found on www.cuswirl.com.
The addition of 2,000 Vcom terminals to the shared branching network nearly doubles the access points currently available to credit union members. Credit unions in some markets will see a dramatic increase in shared branching locations. In Florida, the number of Vcom terminals available will more than triple the number of locations, going from 196 to nearly 600. Colorado will more than double its number of available access points, going from 100 to over 260. And the largest shared branch state in the country, California, will more than double its access points going from 332 to 738 locations.
Credit unions in shared branching now have over 4,000 locations in 47 states. That figure officially places credit unions in the top two of the nation's largest financial institutions in terms of locations. FSCC officials expect that over 2,200 terminals will be active by the end of the first quarter of 2008, making it the largest shared branch network with over 70 percent of all locations in shared branching.
"The combination of FSCC's technology and the Vcom distribution channel will revolutionize how consumers perform routine financial transactions," says Sarah Canepa Bang, CEO, FSCC. "We believe members of Generation Y will find this channel very appealing."
Bang also reported that during the two-week testing phase, credit union members found the services available in 10 pilot locations, registered and began using the units for shared branch transactions.
Bang believes that offering credit unions ground-breaking solutions is an important goal for FSCC. "The support and dedication demonstrated by FSCC credit unions allows FSCC to offer innovative and advanced services," she says. "By partnering with Cardtronics and 7-Eleven, we have found a way to bring convenience and technology together to benefit the millions of credit union members across the country."
According to recent studies and industry resources such as www.atmmarketplace.com, self-service banking is expected to soar. Consumers are performing 100 million self-service transactions every day and predicted to conduct nearly 60 billion self-service transactions annually by 2010. Studies have also found higher satisfaction rates among consumers who have greater choice in deciding where, when and how they bank.
FSCC has designed webinars on the functions and services offered through these new access points. Webinars are scheduled for October 18, October 23, and NOVEMBER 15. For more information on an upcoming session, please visit www.fscc.com or contact Bonnie Kramer at (888) 372-2669 ext. 1220, bonnie.kramer@fscc.com.
About Financial Service Centers Cooperative, Inc. (FSCC)
FSCC is the nation's leading credit union Shared Branch Network providing convenient access for financial transactions at thousands of locations in the U.S. and five countries. Through the national network, FSCC credit union members have access to over 4,000 branches in 47 states. Due to the recent implementation of shared branch services in select 7-Eleven stores nationwide, FSCC maintains over 3,000 locations within its own network. FSCC credit unions represent $125 billion in assets and $12 million to its members through patronage dividends, rebates and return of capital. For more information, please visit www.fscc.com or call 888-372-2669 ext. 1230.