Five Star ITM Customer Journey

Five Star Credit Union Launches New ITMs

The Stats

  • Five Star Credit Union, Dothan AL

  • $750 million in assets; soon to be $1.2 billion at the completion of 2 bank acquisitions 

  • 17 branches

  • 130 employees (70 are branch staff)

  • Branch network rural Alabama and Georgia

  • Low income, blue-collar membership

  • Jack Henry Symitar core

  • Installed 40 Hyosung core integrated ITMs

  • Entire fleet supported by 2 staff members

Five Star Case Study Pano

 

Reasons For ITM Deployment

STAFF

Create specialized branch staff primarily focused on member experience and onboarding.

24 / 7

Expand member services to allow 24/7 access.

Franchise Model

Expand faster with a lower cost structure than traditional branches. Reduce overall transaction cost. 54% of membership perform a transaction in a branch monthly

Core Competency

Turn technology development into a core competency.

Results

  • 40 ITMs conduct 65,000+ transactions per month—70% of all branch transactions

  • 99% of ITM transactions are done via self-service

  • 70-75% of transactions performed on drive-through ITMs

  • Active teller handles 1.3% of the transactions

  • Members migrating from traditional branches to new technology branches

  • Members requesting ITMs for traditional branches

  • Staff can focus on problem resolution and onboarding

“Partnering with QDS was the obvious choice because of their knowledge, vision, and passion for our industry and the new ITM technology”

Tyler Beck, COO Five Star Credit Union

Results

  • ITM transaction costs are 3x less than via traditional tellers

  • Require 2,500 transactions to justify 1 FTE Teller position

  • FTE salary and benefits equal $40,000

  • Transactions processed by the machines monthly would require 10.5 FTE

  • $240,000 savings in annual staffing costs due to ITMs

  • In 2022, Five Star staff closed $25M in loans by having deeper financial conversations and creating meaningful relationships

  • “Will never buy a traditional ATM again”

HubSpot Video

 

Q&A with Five Star Chief Operating Officer, Tyler Beck

Sean Farrell recently sat down with Tyler Beck, SVP and Chief Operating Officer of Five Star Credit Union to discuss their ITM journey.

In this Q&A conversation, Tyler shares the most important lessons Five Star has learned over the past five years of transforming the branch dynamic and member experience through next-generation ITM technology. 

Ready to Discuss Branch Transformation Through an ITM Strategy? 

Complete this form to connect with a member of the QDS team. 

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