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www.branchserv.com
MOVING FROM CASH TO CUSTOMER:
How One Credit Union Put Member Needs First.
CASE STUDY: The Polish National Credit Union ADOPTION: 2016
PROJECT: Installation of LTA350 cash recyclers from CV Cash
Automation and BranchServ
BACKGROUNDFounded in 1921 by a group of fi fteen Polish
immigrants, Polish National Credit Union was originally intended to
support savings and loans for residents of the local Chicopee
community. It has since escalated its branch presence, its place in
the industry and its overall success. PNCU is indeed now a full
service community Credit Union with branches located in Chicopee,
Chicopee Falls, Granby, Westfi eld, Southampton, Hampden and
Wilbraham, MA.
Some of the institution’s success can be attributed to strategic
acquisitions including the Granby Credit Union in 1985, the Buxton
Employees Credit Union in 1989, and the Westfi eld River Federal
Credit Union in 2006. That said, both its fi nancial performance
and its reputation are ultimately driven by PNCU membership.
Subsequently, that membership remains the institution’s fi rst
priority. Indeed, PNCU’s mission, as stated, is to grow lasting
relationships to improve people’s lives.
BUSINESS OBJECTIVESThe state of the industry in the Northeast is
not unlike the nation as a whole, and the pressure on the bottom
line is greater than ever. With an eye to continued success, PNCU
was compelled to identify opportunities to increase branch effi
ciencies but it was critical to avoid sacrifi cing the member
retail experience.
According to Jim Kelly, CEO:
“Polish National Credit Union owes its success to those we
serve, therefore all credit union decisions revolve around
optimizing member relationships. This project was identifi ed as a
critical opportunity for us to ensure the future success of the
institution and better meet the needs of our members.”
Cash recyclers soon emerged as a potential solution, as
recycling promised to meet and even exceed PNCUs objectives.
Recycling technology indeed reduces transaction time and cash
handling in support of optimal effi ciencies. In doing so, it also
minimizes member wait time and actually enhances the opportunity
for face-to-face member interaction. And the TCR is in essence a
vault, with limited cash exposure and counterfeit detection, thus
supporting improved branch security. All in all, PNCU was looking
at a win-win proposition but needed to ensure that they chose the
“right” recycler.
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THE STAKEHOLDERSThe success of a recycling solution hinges on
employee and customer understanding and trust in the technology. A
team led by Kevin Kober, Director of Retail, therefore included
Melinda White, Branch Manager at the Main Offi ce and Lynn Trompke,
Branch Manager for the Granby Offi ce to represent the customer and
the teller line as they explored recyclers for installation at PNCU
branches.
“It was critical to involve Branch Management in the review
process given that they have a solid understanding of the demands
on the retail fl oor and can therefore assess best-fi t.”
Kevin Kober, Director of RetailPolish National Credit Union
THE RECYCLER DECISIONThe Polish National team reviewed various
options in cash recycling, and ultimately narrowed down its choice
to the LTA350 from CV Cash Automation and BranchServ. The fi nal
decision in support of the LTA350 was driven by four things:
relationship, functionality, security and value.
RelationshipPNCU had a successful history with BranchServ, as
the latter had provided video, alarm and ATM installations with
demonstrated professionalism and capability. Polish National was
also cogni-zant of BranchServ’s well established service
organization sup-porting all installations. As such, BranchServ was
regarded as a trusted resource for security and automation
solutions. And with recognition for the importance of
relationships, this partnership was given strong consideration in
the decision-making process. Kirk Burnham SVP Operations for PNCU
stated:
“We looked at a lot of different recyclers before making a
decision. Our relationship with BranchServ, and their track record
of outstanding service was a key deciding factor. Furthermore, from
a functional perspective, the LTA350 was very simply a better
product.”
FunctionalityFrom a functional perspective, the LTA350 did have
considerable advantages including:� High note capacity supporting
fewer vault buys/sells; especially
critical in the main branch of PNCU where the vault was
positioned a good distance from teller stations.
� Operational Cassette to optimize the process of cash transfer;
a feature specifi c to the LTA350.
� Superior note speed for faster transaction times. � Multiple
options for integration with existing systems, including
middleware. � Ease of use including tilt screen and error
management for
trouble shooting.
SecurityThe reduced cash exposure inherent in the operational
cassette was extremely compelling, but the security feature that
was most advantageous for PNCU was the LTA350’s automated contained
self-audit capabilities. Integration with alarm panels, the hold-up
option, and the record of serial number for notes dispensed further
supported the security story for the LTA350.
ValueDue to the fact that BranchServ has exclusive rights to
represent the LTA350 in North America, via CV Cash Automation there
is greater fl exibility in its pricing structure. Therefore, PNCU
was able to leverage all of the benefi ts of the LTA350 at an
unsurpassed value.
Ultimately, according to Burnham:
“The LG LTA350 Recycler provides the best combination of
technology, function and reliability; all at a reasonable price.
These factors coupled with the exceptional service we receive from
BranchServ made these recyclers a perfect fi t for our
organization.”
THE PLACEMENTPNCU’s Main offi ce in Chicopee, MA was redesigned
to accom-modate 2 cash recyclers. Its Granby, CT offi ce made room
for 1 cash recycler. Once the facilities had been adjusted to
incorpo-rate the LTA350, the teller staff needed to be trained.
Fortunately, this process was seamless as the technology is both
intuitive and user-friendly. Furthermore, BranchServ provided
support and as-sistance until the transition was complete.
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THE RESULTSThe LTA350 installation has rendered exceptional
results for Polish National Credit Union.
Functionality/Effi cienciesAll of the functional advantages
anticipated with the LTA350 have proven out in the fi eld. The
implementation of BranchWare middleware for system integration has
been smooth. And the recycler now serves as the institution’s main
“vault” where installed. All vault buys and sells are therefore
conducted with the recycler; eliminating the need for supervisor
intervention. Cash deliveries have unexpectedly been reduced and
the verifi cation of cash delivery time has been cut in half.
Per Kevin Kober, Director of Retail;
“BranchServ has been able to provide Polish National Credit
Union with the technology that makes the members time spent at the
teller window shorter and the tellers work faster. The cash
recyclers have supported our ability to keep up with the changing
wants/needs of our members.”
SecurityFrom a security perspective, the loading/unloading of
cash via the operational cassette has allowed PNCU to minimize
recycler opens and better manage cash exposure. The credit union
has also found that the self-audit feature is a tremendous
time-saver as it allows for auditing overnight. Finally, full
integration with PNCU’s alarm panel safeguards the equipment.
Security features have resonated, especially with branch
management.
Reliability/ServicePNCU has not had any issues with the LTA350,
but chose coverage with BranchServ’s TotalServ plan for peace of
mind. This all-inclusive service contract covers every aspect of
equipment planning, maintenance and service for a single annual
contract fee. PNCU benefi ts from the gold standard in recycler
service should it be necessary. And with real time video guidance
for issues like jams, uptime is always optimized with these
recyclers.
Member Relationships Most importantly, the LTA350 cash recycler
from CV Cash Automation has far surpassed expectations in its
ability to support the focus on PNCU members.
Melinda White, Branch Manager says:
“Members appreciate the speed of the process, and knowing that
their cash transactions are managed with a high degree of accuracy
gives them peace of mind. Furthermore, as the recycler is very
quiet, tellers can engage members in conversation about other fi
nancial needs while conducting their transactions. The member
experience is therefore less robotic and more interactive.”
And that was the goal with the recycler installation according
to White who added:
“This has really allowed us to change the conversation. Tellers
are now seizing the opportunity to really delve into what members
need, and have been met with appreciation. To that end, the results
have surpassed our expectations.”
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LESSONS LEARNED
There have been a few key lessons for Polish National Credit
Union in adopting recycling technology from CV Cash Automation and
BranchServ:
(1) Teller Adoption is easier than it looks. The credit union
assumed that seasoned staff might be reluctant to trust the
recyclers, thus creating a lag with adoption. But well-planned
training and intuitive technology eliminated the “fear factor”, and
within a matter of just two weeks tellers were won over by the
LTA350.
(2) Central is best. While PNCU tried a few different approaches
to layout, locating the recyclers centrally ultimately proved to be
optimal for both functionality and ease of use.
(3) The LTA350 will exceed your expectations. Indeed, Melinda
White pointed out that she had previously worked with three (3)
other brands of recyclers, and from her perspective
“in terms of speed, ease of use, and accuracy this product is
honestly the best.”
WHAT COMES NEXT
As a result of the LTA350 recycler successes at the Main Offi ce
and Granby Branch for Polish National Credit Union, there are more
installations planned. Two recyclers are, in fact, in process for
placement at a renovated branch. And another 5 offi ces are slated
for adoption of the recycler technology. Soon, most PNCU branches
will benefi t from recycler technology from BranchServ.
“Ultimately, Polish National Credit Union is looking to be an
innovator by adopting technology that makes member transactions
easier, smoother and faster.”
Kevin Kober, Director of RetailPolish National Credit Union
CONTACT BRANCHSERV TODAY
[email protected] • www.branchserv.com
4 Research Drive, Bethel, CT 06801voice. 203.403.4200 • fax.
203.403.4201
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its entirety or in part, unless permission is granted by
BranchServ. This case study shall not be adapted, modifi ed or
rebranded without express permission by BranchServ.
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