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Northeast Credit Union Taps Pendum for Major ATM Upgrade
Thursday, July 24, 2008
New ATMs Bring Envelope-Free Deposit, Cost Savings to CU
DENVER, July 24 /PRNewswire/ -- Pendum LLC, the nation's largest
independent provider of cash automation and armored transport solutions, today
announced an agreement with New Hampshire-based Northeast Credit Union to
implement a comprehensive ATM solution featuring state-of-the-art equipment
and supporting services. The upgrade project, currently underway, brings
enhanced remote banking capabilities to NECU members and reduces operating
costs for the credit union.
Pendum, NECU's ATM partner for more than 15 years, provided consulting and
an equipment plan to upgrade the credit union's entire ATM fleet over five
years. Pendum will also continue to provide first- and second-line
maintenance, cash replenishment, deposit pick-up and delivery, and other
supporting services.
"Upgrading our ATM fleet is one way we continue to make our services more
convenient, user-friendly, and cost-competitive for our members," said Julie
Roy, assistant vice president of operations for NECU. "Pendum's strong track
record and breadth of services made it the ideal partner to manage such a
large-scale project."
The new ATMs, a mix of NCR 5886 and 5890e models serving various on-site
and remote locations, feature NCR's Intelligent Deposit technology, which
allows users to insert stacks of bills and feed checks directly into the
machine with no deposit envelope. Advanced imaging technology scans and
verifies deposits, and provides picture-based confirmation to users.
The technology presents a number of important benefits for the credit
union and its members, including:
-- A significant reduction in deposit processing costs, due to the new
ATMs' ability to automatically verify deposits through the NCR
ImageMark Passport Consolidation Server Solution, which alleviates
credit union staff from processing envelopes manually.
-- Less frequent deposit pick-ups, creating additional cost savings.
-- Faster availability of funds for the credit union and members.
-- Elimination of empty-envelope fraud.
-- Increased customer satisfaction in response to the ease of deposits and
on-screen confirmation of deposit amounts.
"As competition in the banking industry only gets tougher, a high quality
ATM network can help financial institutions achieve differentiation and
improve operational efficiency," said Robert Malik, executive vice president
for Pendum. "We're proud to continue our longstanding relationship with NECU
as we help them transform their ATM network into a strategic asset."
About Pendum
Pendum LLC is the nation's largest independent provider of cash automation
solutions, including sales and service of ATMs, kiosks, cash dispensers and
recyclers, and armored cash transport. Pendum's single-source solution for
hardware, software, equipment maintenance, cash management and delivery
simplifies the vendor management process and creates unmatched value for
clients. The company services more than 60,000 ATMs, 65,000 desktops and
peripherals and 500 teller cash dispensers and recyclers in 42 states,
enhancing profitability and performance for more than 1,600 customers. For
additional information, visit http://www.pendum.com.
About Northeast Credit Union:
Northeast Credit Union is a leading not-for-profit, cooperative financial
services organization owned by its members. New Hampshire-based NECU offers an
array of financial services, to include: competitive financing rates, checking
and savings, retirement planning, online banking and bill pay, mortgages, home
equity loans, and business services. NECU currently has over $573 million in
assets and serves over 56,000 members at branches in Portsmouth, Exeter,
Dover, Rochester, Manchester, Concord, Lee, Northwood, and the Portsmouth
Naval Shipyard. For more information about choosing the right financial
product or service, please visit http://www.necu.org or call 1-888-436-1847.
This credit union is federally insured by the National Credit Union
Administration. Equal Housing Lender
SOURCE Pendum LLC
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