Improving Practices and Saving Money for a Valued Customer
Stacks of bills lying out in plain view, a vault left unlocked, and thousands of dollars in overtime pay each month – this credit union needed our help.
When Credit Union of Georgia (CU of GA) came to us for help, they were in need of some dramatic solutions. Lacking consistency across their seven branches, employees were finding themselves in dangerous situations. Out of necessity, tellers were leaving their day vault unlocked in order to meet their customers’ demands for large amounts of cash. If it was a busy day when a member brought in a large deposit, that business’s cash would often have to be set aside and later counted in an area where anyone could see just how many thousands of dollars were currently sitting in the branch.
In addition, CU of GA was paying $5000 each month in overtime as their tellers were required to stay late, counting down their drawers each night and tracking down where and how mistakes had been made throughout the day. CU of GA needed the technology to address these problems within their branches, but even more, they needed excellent listeners and innovative thinkers to help them identify the root of their problems and offer long term support along with top notch products.
Our first step in this situation was the same first step we always take – we sat down with our client for a conversation to truly understand their problems, their concerns and their hopes for the future. We had many conversations with CU of GA’s executive team, offering solutions, addressing concerns and clarifying areas of confusion. We suggested the installation of TCRs (teller cash recyclers) and began by putting the machines in one Credit Union branch. The improvement was instant and dramatic.
The TCR acts as an electronic cash drawer that automatically separates, sorts and counts all bills that go into and out of the machine. It electronically verifies each transaction and audits itself, essentially eliminating the need for tellers to count down their drawers each night or search for mistakes. Overtime pay at CU of GA decreased by 90%, falling from $5000 per month to just $500 per month. In addition, and just as importantly, the TCRs diminish cash vulnerability because each secure unit can hold up to $200,000 at a time. Tellers no longer had to retreat to the day vault in order to retrieve large sums of cash; tellers no longer had to count piles of money in plain view.
The TCRs also decreased the amount of fraud to which the credit union was vulnerable, as they are able to automatically identify counterfeit bills. Installed with top-of-the-line alarm systems, the machines don’t have to be emptied each night. The benefits experienced by this first branch were clear, and it wasn’t long before we were rolling out the large fleet of TCRs, installing these machines at every teller station in each branch.
CU of GA experienced an added benefit as their employees began using this new technology – it significantly improved customer experience. Whereas before tellers had to have their heads down counting money in the midst of a transaction, now they were able to offload this task to the TCR, opening up the time for conversation and face-to-face interaction with their customers that they hadn’t been expecting. Tellers were able to make the credit union member experience that much better, engaging in connection and conversation in a fresh and powerful way with people who had been banking with them for years.
The STS Group Experience
Our work with CU of GA is indicative of what all of our customers come to know – that working with STS Group is more than just a business interaction; it’s a compelling experience.
- We are culture-driven, and we take care of our employees and our customers.
- We are committed to offering long-term solutions, not just one-time fixes.
- We believe that consulting is our super power. In an industry where a dozen manufacturers all do essentially the same thing with a few minor variables, it’s our hours in conversation and consultation that make the difference.
- We are dedicated to our core values:
- Invested in STS Group
- Dedicated and Hardworking
- Team Oriented
- Dedicated to Customer Satisfaction
When you need us, we will be there for you with the best people offering powerful solutions and personalized service. Give us a call today!