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
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”
