Kinetic Credit Union, has new ATM machines as part of the newly-launched Members ATM Alliance. Kinetic is the first credit union to deploy ATM machines through MAA, an endeavor of Cooperative Services, Inc. MAA gives credit unions the opportunity to outsource their ATM management while belonging to a large network and maintaining their individual branding on the machines.
 
"With upcoming compliance issues and regulations, we were going to have to upgrade our ATMs," explained Janet Davis, President and CEO of Kinetic Credit Union. "That expense was borne by the alliance, while offering the latest and greatest technology for our members. It was really important to us to be sure to keep the Kinetic Credit Union branding, but also being a part of the collaborative network to offer more ATMs, with the benefit of someone else running them for us. Participating in the alliance allows us to redirect resources previously consumed by ATM management to other projects leading to improved member service."
 
For financial service providers, ATM programs are a key component for success. In fact, 2013 data shows 73 percent of all new accounts opened were influenced by ATM access. But ATMs don't run themselves. Each ATM requires more than 200 hours a year just to manage the machine, while another 100 or more hours are spent on compliance issues for an ATM fleet. On average, an ATM costs a financial institution $2200 a month to operate.
 
"We know ATMs are expensive for credit unions, managing them is time consuming, and there is a high compliance risk," explained John Kerley, CEO of CSI. "We also know ATMs are relevant and that members want and expect a positive, convenient experience. We're really excited to offer this new way for credit unions to better serve their members while realizing a significant benefit to changing the way their ATMs are managed."
 
The program went live on Sept. 17, with the first depository machine going online on Oct. 5. MAA is owned collectively by the credit unions in the alliance, and operates in partnership with Elan Financial Services.