Conference 7.286::dcu

Someone raised a related point:  DCU has often claimed that their high 
costs were due to the fact they had to maintain a lot of branches, and 
thus a lot of branch personnel.  However, its true that these 
personnel VERY OFTEN are doing other things than manning windows, even 
when the line is out the door and down the hall.

I wonder how a 'normal' bank with fewer tellers manages to get all the 
"other work" done.

    Re: .-1
    
    I have seen the same thing, many times.  I wondered if I was the
    only one who saw this.  When the lines are long, they SHOULD open
    another window, if the people are available.  It is much like a
    grocery store.  When lines increase, open more lines (or maybe DCU
    is more like a grocery store then we think . . . close a line instead!)
    
    	- mark

re:    < Note 141.1 by BINKLY::WINSTON "Jeff Winston (Hudson, MA)" >


>Someone raised a related point:  DCU has often claimed that their high 
>costs were due to the fact they had to maintain a lot of branches, and 
>thus a lot of branch personnel.  However, its true that these 

    This is DCU's fundamental problem: Many branches, staffed with many
    branch personnel. Littleton will soon have two (2) branches, plus
    a DCU ATM (which just opened in LKG). They're becoming the "Bank
    of America" of credit unions. (Parts of LA used to have B of A branches
    every � mile or so.)
    
    They could deliver 90% of their current services, for much less cost,
    with: one large walkin office at PKO5, a larger toll-free voice
    response system, postage-paid services by mail, and free access to
    CIRRUS, PLUS, and NYCE ATM's.
    
    DCU's intermediary cost: Unsecured loan rate (16.25%) minus base
    savings rate (5%) = 11.25%
    
    Other CU's: 6% to 8%  

>    They could deliver 90% of their current services, for much less cost,
>    with: one large walkin office at PKO5, a larger toll-free voice
>    response system, postage-paid services by mail, and free access to
>    CIRRUS, PLUS, and NYCE ATM's.
    
Not sure I agree.  On some transactions (big deposits, special 
situations), etc, I like to talk to a person.  My point was:  If 
they're so "overstaffed"  how come people are always too busy to man 
the windows when the lines get long. 

What I wish they could do, somehow, is cut down on the number of 
people who go to a window merely to withdraw some amount below $30.  
The tellers tell me that they see some people once ot even twice every 
day, and they never take out more than $15 or $20 at a time (luch 
money, coffee money, etc).  

Maybe all "withdrawal only" transaction should be FORCED to an ATM 
when there's one on site?

       How many branches have an ATM on site? Not many, I imagine.
                                                             Denny

re .4
> Maybe all "withdrawal only" transaction should be FORCED to an ATM 
> when there's one on site?

Some people will never accept no-human bank transactions as they just don't 
trust machines to handle their money (not my personal opinion).  How about 
a WITHDRAWAL ONLY window during peak periods ??

    I think that some of the ideas are worth considering.  However,
    I would not agree that only one branch at PK05 would be best.  What
    about those persons at say Marlboro or Nashua, or (god forbid)
    Merrimack?  They would have an awful long ride, which would not
    be possible to complete during lunch.  Since the office is not open
    any evening or weekend hours, this would make use of DCU very
    difficult.
    
    In addition, there are times, other than direct deposit of the
    paycheck, when it is necessary to use the tellers.  For example,
    cashing or depositing a check other than our payroll check.  This
    could be done with the machine, but an extra 1-2 day hold would
    most likely be placed on the deposit.  This would not be acceptable
    for me.
    
    I agree that many facilities do not have ATM machines.  Witness
    some of the notes on this topic.  AKO is a fairly large facility,
    and it has a branch but no ATM.
    
    I wish DCU would give us free access to the ATM networks now.  I
    don't always remember to get to DCU before they close.  Then I must
    use an ATM.  Since AKO has no ATM, I either have to stop at a facility
    that does or pay the $1.00 fee to use CIRRUSS.
    
    With DCU's inconvenient location, they almost have no choice but
    to continue their branch policy.  I believe that they are here to
    give us good service, which for the most part I have had no problem
    with.  There are times, such as the idiotic hold policy they have
    in place now, when I feel they are unresponsive and too cavalier
    in their attitude.
    
    They should be more open to installing ATM machines than they are
    now.  They might find that on the whole they would get more business
    and would have a higher level of satisfaction among the masses.
    
    Ed..
    

    My suggestions are based on real-world experience with another credit
    union: Their one office is in a place far more remote than Maynard,
    MA. Free Cirrus access provides cash and Mobil gasoline. The toll-free
    phone line provides all the human interaction I require.
    
    To bring this note back to the topic, my other CU satisfies me by
    delivering the services I want for the price (money and time) that
    I'm willing to pay.
    
    DCU partly satisfied me when I joined. After doubling the sharedraft
    interest-earning minimum (without notice!), and imposing draconian
    hold times on deposited checks (and lying to the membership by blaming
    the new policy on Regulation CC), any satisfaction I had is almost
    completely gone now. I'm just waiting to use up my supply of checks... 

    
    I'd *love* to be able to use DCU's ATM instead of a teller to get cash. 
    Unfortunately, since I only have a share (savings) account, and no
    share draft (checking), I don't get one!  I have the savings with weekly
    payroll deposits solely for the convenience of having cash and services
    such as notary public available at work; I'm sorry I have to take up
    valuable teller time.
    
    Beverly
    

>>I wonder how a 'normal' bank with fewer tellers manages to get all the 
>>"other work" done.

    Most "normal" banks are open far shorter hours than DCU; all the
    "other" work is done between closing time and 5:00.  And yes, I
    know there are exceptions.
    
    Bruce (who doesn't remember the last time he made it to his "other"
    bank when they were open)