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The Challenges

Replace or

Pima FCU wanted to spread the benefits of cash automation to other branches but wasn’t sure how many devices were needed—and where.

Ensure Staff is Using Machines Correctly

Pima FCU had already deployed machines but had no visibility into what was working—other than staff feedback.

Optimize Cash Automation Investment

Cash machines aren’t cheap and Pima FCU wanted to make sure it was getting the most out of its investment.

“Pima FCU could have spent an unnecessary $160,000 on new cash dispensing
and recycling machines this year but discovered through CFM iQ
that only 2 new machines were needed—not the 6 originally planned.”

Gary Angeles, COO | Pima FCU

The Process

Pima FCU, a $382.9 million credit union based in Tucson, Arizona, was looking to expand the use of Teller Cash Recyclers and Dispensers in its branches. They had seen tremendous improvement from the investment, but had budgeted for six machines to replace “troubled” machines and add more recycling technology to the mix.

Already a CFM integration client, Pima FCU told CFM its replacement plans. Immediately realizing an opportunity, CFM offered to run iQ, a reporting and analytics module, to give the credit union visibility into how its fleet was performing and uncover the root cause of malfunctions, true utilization, as well as hardware-based, cash-flow data.

As soon as iQ was implemented, CFM quickly identified the root cause of the troubled machines’ downtime. Now Pima FCU had a plan of action to fix the true problem, not just a symptom.

Additionally, CFM iQ was able to identify the machines that were underutilized, branches that could benefit from a training refresher and the locations that would actually benefit from the addition of recyclers based on actual cash coming over the counter.

The Result

“That discovery was invaluable, Gary Angeles, COO, Pima Federal Credit Union said. “We had planned to replace six devices, but we had no real data behind it. After we added the software, we saw that the devices weren’t really the problem. It gave us a truer picture of what was going on.”

Pima was able to redeploy machines from underutilized environments to those in need, and bring others back to full utilization with some additional best-practices training. The 2 new devices were added to locations that the iQ tool proved had been manually processing $6MM+ in cash, through dual-control processes, in and out of their vaults.

The recyclers closed this cash cycle and avoided all of the wasted back-office processing/time. In short, the fleet was finally optimized and the hardware purchase was based on real data—not an educated guess.

CFM X-Factor

  • Even though the branch reported the machine as troubled and needing replacement, iQ uncovered the root cause of the problem was staff operating the machine incorrectly. With CFM, Pima FCU discovered additional staff training was the answer, not buying costly new hardware.
  • Instead of spending thousands of dollars on more equipment, Pima FCU realized through iQ Usage Analytics at it had too many machines in one branch—and could save money by redeploying a machine to a better location.
  • Overall, Pima FCU realized a $160,000 ROI from its iQ investment.