IBM Banking Centers Deliver Fast Cash, Services to Michigan First Members

IBM Banking Centers Deliver Fast Cash, Services to Michigan First Members

Michigan First Credit Union has selected IBM (NYSE: IBM) to provide “electronic-banking” centers that allow its members to do their banking in a faster, more convenient way.

Working with the IBM Global Technology Services team, Michigan First’s MoneyWorks Banking Centers combine many of the attributes of traditional branch banking with the ease of use and conveniences of online banking. While similar in appearance to ATMs, the MWBCs are state-of-the-art units that provide most of the services offered by a teller such as cashing checks to the penny, making loan payments, getting receipts, transferring funds between accounts, getting printed copies of statements, and making deposits with checks, cash or coin. All transactions are posted to accounts immediately. The banking centers can also be used by people who are not members of Michigan First for regular ATM services.

“Our MoneyWorks Banking Centers are the first thing you see when you walk into our branches,” said Michigan First Credit Union President & CEO Michael D. Poulos. “Our members have taken to using the banking centers over waiting in line for a teller for a large number of their transactions.”

Poulos says that members who require assistance from a teller can wait an average of seven to 10 minutes, while members using the Credit Union’s MWBCs spend about three minutes completing their transactions — which are about a third of the time. This enables tellers to spend quality time with members who require additional assistance.

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