ALBANY, NY (02/25/2016)(readMedia)-- ALBANY, N.Y. – First New York Federal Credit Union and Saratoga's Community Federal Credit

Union recently collaborated on a self-service terminal. Under the first-of-its-kind collaboration, First New

York FCU will launch a state-of-the-art CO-OP NextGen ATM in the vestibule lobby of Saratoga's

Community FCU's branch. The Saratoga Springs-based credit union retrofitted their lobby space for the

terminal and will provide routine maintenance of the terminal and guidance to members.

"NextGen ATMs give us the opportunity to be at the forefront of delivering enhanced convenience

and better services for not only our members, but members of other credit unions as well," said

Lucy Halstead, president and CEO of the Albany-based First New York FCU.

Both credit unions participate in the CO-OP surcharge-free ATM network and the CO-OP shared

branching network.

Under the new collaboration, members of the credit unions can complete all routine teller transactions in a

self-service environment, and members of other credit unions within the CO-OP Shared Branch network

can use the NextGen ATM terminal to complete common shared branching transactions.

"This technology allows Saratoga's Community FCU and Shared Branch members to conduct teller

transactions 24/7, thereby greatly expanding service channels to credit union members," said Saratoga's

Community FCU President and CEO Donald Denofio. "Additionally, during normal business hours,

Shared Branch members have the option to process those more complex transactions at our shared teller

windows."

First New York's deployment of the CO-OP NextGen ATM was made possible through UsNet's

partnership with CO-OP Financial Services.

"Because CO-OP NextGen ATM migrates routine teller transactions-including shared branching

transactions-into the self-service channel, credit unions can maximize branch efficiencies," explained

UsNet Vice President William Bywater. "This solution also helps credit unions differentiate from banks

by expanding the unique benefits of shared branching."

UsNet is a credit union service organization owned by New York's credit unions and the New York

Credit Union Association. The CUSO provides shared branching services to participating credit unions as

part of CO-OP Shared Branching's national network. Currently, more than 1,800 credit unions

representing 55 million members participate in CO-OP Shared Branching, which is the third largest

network of branches in the country-trailing only Wells Fargo and Chase-representing over 5,300-

shared branches. The shared branching concept is unique to the credit union industry, enabling members

to enter any of these branches and conduct their business as if they were in their own credit union branch.

About First New York Federal Credit Union: First New York Federal Credit Union was founded in 1937

as Schenectady Teachers Federal Credit Union and now operates six full service branches throughout the

greater Capital Region. The credit union offers traditional financial products found at many financial

institutions including checking and savings accounts, share certificates and money market accounts, auto

and personal loans, mortgages and home equity loans, and commercial deposit and loan accounts. First

New York Federal Credit Union also operates in-school branches run by student volunteers throughout

the area, including Schenectady, Mohonasen, Albany, Schoharie and Scotia-Glenville High Schools.

About Saratoga's Community Federal Credit Union: Saratoga's Community Federal Credit Union is a

full service financial institution founded in 1945 by a small group of teachers in the Saratoga Springs

Public School System. Since that time the credit union has grown to service the financial needs of the

communities within Saratoga County offering a wide range of services from student loans, mortgages,

and auto financing to savings and retirement options. Saratoga's Community FCU is committed to

integrity, innovation, and individualization, providing fair and honest products for all individuals.

About UsNet: Universal Sharing Network (UsNet) empowers credit unions to expand their reach through

participation in shared branching. As a partner of CO-OP Shared Branching, UsNet offers credit unions

and their members access to more than 5,300 Shared Branching locations in and beyond the U.S. For

more information, visit www.universalsharing.com.

Posted Thursday February 25, 2016 at 01:49 pm by New York Credit Union Association