Billion Dollar Credit Union Adds Flexibility and Improves Efficiency with Video Banking System
SALT LAKE CITY and RICHLAND, Wash. (December 4, 2012) – uGenius Technology, the leading firm providing comprehensive multi-channel video banking solutions to financial institutions, today announced that Gesa Credit Union, the largest financial cooperative in Southeastern Washington, is the first financial institution in the Northwest to deploy uGenius Personal Teller Machines™ (PTMs), powered by the uGenius Video Banking System™. Gesa, a $1.2 billion credit union, will initially deploy five PTMs at two of its branch locations in Q1 2013 to improve operations and enhance the member experience.
uGenius’ Video Banking technology increases operational efficiency and productivity by giving credit union members the option to interact with a live teller through two-way video. Credit union members may conduct typical transactions through video tellers including making deposits, paying bills, transferring money, cashing checks, and more. The five uGenius PTMs will decrease branch cost and increase service efficiencies for Gesa’s more than 100,000 members.
“Implementing uGenius’ video banking technology is part of our continued effort to add services and products that are convenient, economical, and desirable for our growing communities,” said Christina Lethlean, president and CEO of Gesa. “This technology allows our members to connect with our virtual experts who can assist them with all their transactional needs. We anticipate a significant return on our investment from the system as we increase member growth, overall deposits, and net income.”
uGenius pioneered the concept of remote video banking in response to the financial services industry’s need to find innovative ways to reduce costs and increase services. Through uGenius’ PTMs, financial institutions are able to expand their footprints and bring traditional banking services to new and underserved neighborhoods and other high traffic areas, such as retail stores or supermarkets, without increasing overhead for employees or payroll.
“Financial institutions that have implemented our Video Banking Solution are able to increase service hours and are seeing decreased transaction times and increased membership,” said Gene Pranger, CEO of uGenius. “We believe that our technology will help Gesa to differentiate itself from competitors and provide services that align with the evolving needs of its members.”
About Gesa Credit Union
Gesa Credit Union has served Washington State’s Tri-Cities community since 1953, and is one of the state’s largest credit unions with $1.2 billion in assets and 111,000 members at September 30, 2012. Gesa is a full service financial institution that offers a complete array of consumer, mortgage and business products and services. Headquartered in Richland, Washington, Gesa operates 10 branch offices in the Kennewick, Richland, Pasco, Walla Walla and Wenatchee communities. Gesa also supports seven student-operated high school branches – the most in the state. Gesa’s commitment to local communities includes support for Junior Achievement, Habitat for Humanity, annual youth scholarships, and free financial seminars open to members and the general public. For more information visit www.gesa.com
About uGenius Technology
uGenius Technology is revolutionizing access to live transaction services by creating personal, convenient, and efficient methods of servicing customers through the use of personal video transaction technologies. uGenius is the leading firm in providing comprehensive multi-channel video banking solutions to financial institutions. The primary product line is the uGenius Video Banking System that allows financial institutions to provide transaction and consultative sales services remotely to customers by using video banking enabled devices. uGenius (www.uGenius.com) is based in Sandy, Utah.