Credit Union of America Selects FMSI’s Teller Management System™ to Reduce Branch Cost Per Teller Transaction; Relieve Future Affordable Healthcare Act Burdens

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Financial Management Solutions, Inc. (FMSI), a provider of business intelligence solutions for banks and credit unions, announced today that Credit Union of America (CU of America) has adopted FMSI’s Teller Management System™ (TMS). The $512 million Kansas-based financial institution will reduce their branch cost per transaction with an enhanced scheduling and reporting solution, allowing them to more closely manage their ongoing workforce optimization initiative.

By systematically keeping our part-time teller average weekly hours below a 29-hour threshold, the FMSI scheduling system will help us significantly reduce our exposure to the upcoming federal regulation. -Eileen Phelps, VP Real Estate & Developmen

Financial Management Solutions, Inc. (FMSI), a provider of business intelligence solutions for banks and credit unions, announced today that Credit Union of America (CU of America) has adopted FMSI’s Teller Management System™ (TMS). The $512 million Kansas-based financial institution will reduce their branch cost per transaction with an enhanced scheduling and reporting solution, allowing them to more closely manage their ongoing workforce optimization initiative.

“We did not have the automated system we required to prepare our staffing and transaction data every month, and we did not want to dedicate any of our IT resources to create a new workforce optimization system,“ says Eileen Phelps, Vice President Real Estate & Deposit Operations at CU of America. “Since our IT team is focused on other initiatives, FMSI’s Teller Management System™ is the perfect outsourced solution to help us accomplish our workforce optimization goals. As the industry experts on the topic, we are confident the detailed reports and proven approach FMSI brings to the table will be invaluable to our success.”

FMSI’s Teller Management System™ addresses the concerns of today’s financial institutions: keeping down expenses while improving service levels in the branches. Through the collection and then preparation of teller transaction data from an institution’s core system, TMS quickly empowers management teams with easy to read and actionable business intelligence.

“In addition to helping us improve our workforce optimization performance, FMSI’s scheduling engine will help us control some of the cost burdens of the Affordable Healthcare Act,” adds Phelps. “By systematically keeping all our part-time teller average weekly hours below a 29-hour threshold, the FMSI scheduling system will help us significantly reduce our exposure to the upcoming federal regulation (see the FMSI Affordable Healthcare Act article for more details).”

“Maintaining teller staffing at the ideal level to ensure customer satisfaction can sometimes be a very credit union specific decision,” says W. Michael Scott, President/CEO of FMSI. "Without accurate information, most financial institutions are not equipped to make a proper evaluation. With more than 20 years of experience helping banks and credit unions improve the productivity of their staff, our unique solutions for measuring and forecasting transaction volumes regularly reveal areas for better service and increased productivity."

About Credit Union of America

Headquartered in Wichita, Kansas, Credit Union of America was officially chartered on March 6, 1935 as the “Wichita City Teachers Credit Union”. In 1974 our name was changed to Credit Union of America and our membership was opened from serving only educators to being able to serve residents and workers in a multi-county Kansas area. CU of America has $515 million in assets and operates 12 retail offices. Learn more at https://www.cuofamerica.com/About-Us

About Financial Management Solutions, Inc. (FMSI)

Located in Atlanta, GA and established in 1990, FMSI provides easy-to-use, yet sophisticated, business intelligence systems - The Teller Management System™ (TMS), The ContactCenter Management System™ (CMS), and the Lobby Tracking System™ (LTS)—that allow financial institutions to manage and staff to meet their service and sales needs. FMSI’s smart scheduling application gives banks and credit unions the ability to optimally schedule their team throughout the branch network, and to manage staff through easy to read color graphics, online interactive dashboards, and succinct management reports. FMSI provides performance management information exclusively to financial institutions of all sizes, including a workforce optimization comparative data benchmarking report that allows clients to see where they rank amongst their industry peers. Visit the company's website at http://www.fmsi.com or call 877.887.3022 to schedule a complimentary online demonstration of any of our products.

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Chad Davis
FMSI
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