Mississippi Employees Federal Credit Union (MEFCU) members are the first in the state of Mississippi to enjoy the added convenience deposit automation brings to banking, thanks to Diebold Incorporated's (NYSE: DBD) advanced-function Opteva automated teller machines (ATMs).
After seeing a demonstration of Diebold's Opteva ATMs at a Tampa credit union last November, MEFCU deployed an Opteva ATM with Diebold's Bulk Note Acceptor (BNA) and Intelligent Depository Module(TM) (IDM) functionalities, as well as a drive-up Opteva ATM at its Tupelo branch.
MEFCU members who use the new ATMs will have the opportunity to deposit checks without the use of an envelope or deposit slip. Through the power of the IDM, members will receive confirmation of their deposits, including an image of the check printed on the receipt. Bulk-cash deposits can also be made without the use of an envelope. Members can use the BNA to deposit stacks of cash, up to 100 notes, right at the ATM. And because deposit automation technology provides verification of deposits and enables financial institutions to utilize electronic images for check clearing, members may have access to their deposited funds more quickly than ever before.
Mansel Guerry, president of MEFCU, said the new capabilities provide the credit union's members with a truly "automated teller," giving them access to a real around-the-clock banking environment.
"We knew that, through these new capabilities, we could take a quantum leap forward by introducing 21st Century technology to our membership," Guerry said. "We saw the use of the automated teller as a means of evolving to a true 24-7 banking environment without having to staff our branch around the clock."
Although MEFCU expects a percentage of members will become avid users of Diebold's ATM, it is considering special promotions to encourage use. Members who take advantage of the new technology may receive coupons for products or services, or may even receive cash prizes through "bonus" currency denominations distributed at the new "automated tellers."
Chuck Ducey, Diebold's senior vice president of global development and services, said MEFCU has been a leader in introducing and implementing new technology to its members.
"MEFCU is a key player in the evolution of deposit automation," Ducey said. "Diebold strives to deliver products and services that improve our customers' businesses, as well as offer greater flexibility for their customers and members. Diebold is happy to partner with MEFCU to implement the first deposit automation application in the state of Mississippi."
MEFCU is first introducing self-service deposit automation to branch customers to ensure a smooth transition to the new technology. It also plans to upgrade its drive-up Opteva ATM in late 2006 to include IDM and BNA capabilities so its customers can take full advantage of 24-7 deposit availability and faster access to funds. In addition, MEFCU may deploy more Opteva ATMs at other branch locations throughout the state.