Leading U.S. Credit Union transforms branch processes through cash recycling
Security Service Federal Credit Union (SSFCU), one of the largest credit unions in the United States, has achieved a dramatic improvement in branch efficiency, security and customer service with the implementation of Glory Global Solutions’ Vertera cash recycling system.
SSFCU is a federally insured, federally chartered credit union with over 50 years of experience operating across Texas, Colorado, and Utah. Headquartered in San Antonio, it currently has more than 960,000 members and over $7.9 billion in assets, making it one of the 10 largest credit unions in the United States.
Prior to its relationship with Glory, SSFCU was exploring ways to reduce branch inefficiencies, while simultaneously improving both security and member experience. Installing Glory’s Vertera cash recycling system across its branches has helped the credit union achieve exactly that. Since the system’s implementation, SSFCU has:
- Improved transaction speeds for manual tellers by 80%
- Reduced teller balancing time by 85%
- Improved cash management accuracy and accessibility
- Achieved a 95% reduction in cash exposure
- Reduced the overall cash inventory needed at each service center
“Glory’s cash recycling system immediately enabled us to reduce staffing levels significantly, by increasing transaction speeds and eliminating idle cash and cumbersome vault management processes,” said Aaron Leek, Senior Vice President, Member Service, Security Service Federal Credit Union. “It has helped us simultaneously realize improvements across operational efficiency, security and customer service.”
“Since implementing the new system, we have seen an impact of over 40 FTE [full-time equivalent] across the business and have been able to open new facilities with significantly fewer employees than with our previous staffing models.”
Chris Reagan, President of Glory Global Solutions, said of the partnership: “Glory’s cash recycling products act as an enabler for firms like SSFCU, allowing them to free up time and resources to build greater in-branch efficiencies, as well as improvements to security and customer service.
“We are very proud of the results we have achieved to date with SSFCU, one of the largest credit unions in the country, and are excited to see what further improvements we can accomplish together going forward.”
About Glory Global Solutions
Glory Global Solutions is a global expert in cash management and business optimization, delivering innovative technology and service solutions that improve security and productivity. Its customers span the financial, retail, amusement and gaming industries.
Glory Global Solutions employs over 2,500 professionals worldwide and has a distribution network reaching over 100 countries. It is supported by the technical expertise of parent company GLORY. With nearly 100 years history, headquartered in Japan, GLORY is a pioneer in the development and manufacture of money handling, cash management, vending and automatic service equipment.
Glory Global Solutions was formed in 2013, following the acquisition of Talaris by GLORY LTD. For more information please visit www.gloryglobalsolutions.com.
About Security Service Federal Credit Union
Security Service Federal Credit Union offers competitive, affordable financial products and services designed to meet the needs of its members. Headquartered in San Antonio, Texas, Security Service is an industry-leading financial institution with $7.9 billion in assets and 70 locations in Texas, Colorado and Utah. The credit union is among the top 10 credit unions in the enation. Security Service strives to be America’s best credit union and provides the true benefits of credit union membership with financial services of the highest quality and value. Learn more at www.ssfcu.org or call 1-888-415-7878.
Editorial Contacts:
John Worthington
Executive Vice President, Chief Communications Officer
T: 210-476-4747
jworthington@ssfcu.org
Mike Harris, Consultant
T: +1 212 459 5738
M: +1 646 477 7592
Mike.Harris@ThisIsFishburn.com
