Since implementing the ATM deposit processing service from Wescom Resources Group (WRG) in April 2006, Fresno County Federal Credit Union has achieved a 50% cost savings, delivering the credit union a cost effective solution. Fresno County FCU, with five branches located in Fresno, Calif., currently has 44,000 members with $443 million in assets.
According to Jeff Bassill, senior vice president of operations at Fresno County FCU, prior to selecting WRG the credit union spent $1.20 per envelope for deposit processing – which included labor, facilities, and transportation. With WRG's automated service, the credit union now spends less than 60 cents per deposit envelope. Also, WRG's solution provided easy integration with the credit union's core processing system, enabling it to streamline internal processes that were previously performed manually.
"Our method of processing ATM envelopes was outdated and labor intensive," said Bassill. "We looked into purchasing equipment to streamline the process but were unable to justify the system cost with our current deposit volume. Partnering with WRG provided us the cost savings of streamlining without the large capital investment as well as providing exceptional service to our members."
When looking at other ATM deposit solutions on the market, Bassill explains that none of them gave Fresno County FCU the comfort factor that WRG brings. "We were very comfortable from the beginning with WRG. In dealing with their people, we could tell they had a clear understanding of how the process works and the key elements for success. As a result, the conversion process went by without any issues," he added.
"WRG's ATM deposit processing solution processes more than 310,000 ATM deposits per month for credit unions nationwide," said Kevin Sarber, president of Wescom Resources Group. "As members continue to use ATMs for their deposits, credit unions like Fresno County FCU need solutions to balance deposits cost effectively and securely. We are pleased that our solution has enabled Fresno County FCU to reduce costs while providing exceptional member service."
About Wescom Resources Group
Backed by Wescom Credit Union, one of the nation's largest credit unions, with more than $3.9 billion in assets and serving more than 300,000 members, Wescom Resources Group (WRG) provides credit unions with reliable, competitive and timely software solutions and services. With nearly 100 credit union clients, WRG is a leader in innovative technologies for the financial industry. Through its MemberEdge platform of products and services WRG offers a wide range of online banking solutions that include Symitar (Episys™) Hosted Service Bureau Processing, ATM Deposit Balancing, Item Processing and Disaster Recovery Services. Software Solutions include Home Banking with Multi-factor Authentication & Bill Pay, Automated Lending Solution, eStatements, eAlerts, Online Membership Application, and more. WRG provides credit unions with all the benefits of today's technology, leaving financial institutions free to focus on their core financial offerings. For more information, visit www.wescomresources.com