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Colorados First CO-OP self-serve kiosk cuts CUs costs
RANCHO CUCAMONGA, Calif. (8/29/08)--Red Rocks CU, Highlands Ranch, Colo., has saved money by using CO-OP Fast Branch kiosks. The credit union is the first in the state to use Fast Branch. It went live with four kiosks in July. The kiosks, offered by CO-OP Financial Services, provide services of conventional ATMs, loan payments and advances. They also allow members to conduct transactions outside of normal business hours. “Focusing on these new delivery methods gave us the ability to raise deposit rates and lower rates on our various loan products, including rates currently being paid by members on existing loans,” said David Starck, Red Rocks vice president of member service. “Giving back to members goes back to the original intent of credit unions and the core foundation of Red Rocks--maximizing the economic benefit for the membership.” More than 1,500 members enrolled to use the kiosks. “Tellers are posted nearby to assist members with initial transactions, but there has already been decreased waiting time at the teller line and an increase in the amount of transactions by repeat Fast Branch users,” Starck added. No positions at Red Rocks were eliminated after the kiosks were deployed, the credit union said. CO-OP Financial Services, based in Rancho Cucamonga, Calif., is a credit union service organization that offers 25,000 surcharge-free ATMs on the CO-OP Network to participating credit union members. Red Rocks has $154 million in assets.


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