By Adam Crider, Assistant Vice President Channel Sales
RVA Financial Credit Union in Richmond, VA was organized in 1950 for the purpose of serving the employees of the City of Richmond. In 2017, RVA made the decision to return to their roots and focus on empowering their members. One goal in their member empowerment journey was to transform their traditional branch design into one which promoted member service and convenience. This strategy included removing the traditional teller line and drive-thru tubes to shift staffing efforts towards more member focused conversations and tasks.
While video teller ATMs are a growing trend, RVA wanted to push the envelope further to maximize member convenience and staffing efficiency. Building and staffing a video call center would only shift the teller responsibility and costs from the teller line to a centralized location, while not providing any additional member convenience. RVA decided to partner with Hyosung America, the leader in self-service and core integrated ATMs, to make their true vision a reality.
By building a certified and direct integration from their Hyosung ATMs into RVA’s core banking system, RVA was able to immediately migrate 100% of their teller transactions to a Hyosung ATM. In the first month, RVA members performed 78% of those transactions without the assistance of a video teller. RVA expects that within only a couple of months, more than 97% of all teller style transactions will be conducted in a self-service manner at their Hyosung ATMs, and that they can eliminate the need for video teller assistance. Members are also able to walk into their branch for personal assistance or to utilize one of their Hyosung core integration ATMs. For maximum convenience, members can simply breeze through the drive-thru and use one of their multiple drive-up ATMs which are available 24/7.
Now, whether they wish to withdrawal multiple denominations from any of their accounts, make a deposit with cash back, make a loan payment, cash a check, print a statement, or conduct several other teller style transactions; RVA members can do so whenever it is convenient for them via self-service.
If you would like more information about Hyosung solutions, please visit Hyosung Americas or reach out to the Authorized Hyosung Reseller near you.
Read more about this case study on CUSO Magazine.
Watch the video below to learn more about RVA's transformation!