SEG-Located ATMs Can Attract New Customers

Article by ATM USA: Credit unions have a variety of unique relationships with their local communities. That integration often includes partnerships with one or more area employers. But supporting Select Employee Groups (SEG) can be a bigger opportunity than some institutions realize. With the right planning, something as simple as an on-site ATM could attract new members, encourage financial education, and improve member convenience.

How can SEG-located ATMs attract new members?

According to studies from the Federal Reserve, Americans use cash as their primary payment option for transactions less than $25. And the number of cash payments increases significantly for households with annual incomes below $75,000. So, it’s hardly surprising to discover hourly employees are some of the heaviest ATM users.

However, the number of accessible ATMs in the US has declined over the past few years. As machines become more expensive and increasingly less profitable, financial institutions and independent ATM operators are pulling back on their off-premise self-service footprints. This deterioration in numbers often means employees must use their lunch break or commute to visit their financial institution, a local money services center, or a nearby ATM.

Providing on-site ATM access to SEG employees offers a significant advantage for busy working professionals. They can access financial services in a safe location rather than traveling elsewhere. And convenient accessibility lets them grab cash, check balances, and perform other transactions without eating into their personal time.

All this service can easily be combined with a branding package such as an ATM wrap, lighted or video topper, and information sidecars – all designed to provide additional information and build trust within the SEG community. That assurance combined with regular brand exposure helps keep the on-site credit union top-of-mind when non-members are looking for more in-depth financial services.

But an on-site ATM can do more than attract new members with convenience. It can offer new ways to build long-lasting relationships.

For more information visit: ATMUSA.com