Printer purchase shouldn't be an afterthought for credit unions

Imagine the following scenario: You are a member at a credit union. You are on your very limited lunch hour and have a very important deposit that must be made at the credit union as soon as possible. You are in line behind two other people. The teller is moving as fast as she can, but is having trouble printing receipts and the member ahead of you just took even more of her time as he expressed his concerns regarding the manual receipt the teller had to write for him. Your stomach growls. Finally, you reach the head of the teller line only to snicker at the poster hanging against the opposite wall attesting to the credit union's superior, speedy service. Grabbing a bite to eat is now out of the question. Printers are engrained into almost every single credit union process, especially those processes that touch a credit union's most valuable asset, the member. Even as Internet banking continues to make a name for itself, printers will remain a staple when it comes to credit union technology. That's why it's so surprising that for many credit unions, the purchase of printers is an after-thought. But like most technology purchasing decisions, what is an after-thought today, can come back to haunt in the future. Education is key to making the right decision about printing technology. Receipt and validation printers most commonly come in two types: inkjet or impact. The main difference is that inkjet is a non-contact method (tiny droplets of ink are ejected onto the paper) whereas impact is a contact method (needles strike a ribbon onto the paper). Impact printing is the older technology. Inkjet came of age in the 1980's. To decide between the two, a credit union may need to answer a few questions. These include: How do the two stack up in print quality? Where will the printer be located? What are the maintenance requirements? What is the cost difference between the two? and What type of printer will fit the institution's unique needs? One of the most important things to consider when purchasing any technology product is the output. In this instance a printer's output is measured in print quality and printer performance. Impact printers rely on a ribbon to maintain good ink quality. Typically, ribbon manufacturers rate their ribbon life in terms of characters. However, because ribbons dry out, many times the ribbon will expire before its rated life in characters can be reached. As the ink dries, the ink fades and the printer quality diminishes. Inkjet printers, on the other hand, maintain a good print quality throughout the life of a cartridge. The standard measurement for print quality is optical density. Optical density measures the contrast between the characters and the paper. After about 1 million characters, the optical density of black ribbons falls below that of inkjet and it continues to decline even further as inkjet optical density holds constant. Hewlett Packard, one of the most well-known providers of printers for the POS, and consumer industry, recently did a study proving this fact. The question of printer location addresses two major issues that are important at any teller line: space and noise level. In recent years, credit union tellers have been bombarded with devices that have automated many processes and have increased efficiency and member service. The bi-product of all this automation; however, has been an increased value placed on counter real estate. Further, the hum and clack of credit union peripherals is another factor that has surfaced as a problem regarding the new technologically savvy credit union. Although most devices have a noise level by themselves that is minimal, the noise from a combination of devices can create a distraction as tellers attempt to help members. Overall, impact printers tend to be larger and louder. The reasons for this are found in the printer's electronic make up. The amount of moving parts involved in the impact system and the energy required to fire the needles simply necessitates larger motors, transformers and circuit boards that increase the overall footprint size. Credit unions buying printers for small lobbies and drive-thru areas may want to weigh these two options before proceeding with printer purchases. Maintenance reputations also are a factor to consider when purchasing any type of printer. Printers are just one of those things that we expect to function. Like electricity, one is always amazed when the power goes off and the way we are used to doing things does not work. A little research into maintenance costs and reputations can go a long way. After all, most credit unions keep their teller printers for more than five years. That's a long time to be stuck with something that does not maintain the proper performance level. The last question a credit union should consider is how its transactions differ from retail transactions. With checks, deposit slips, cash tickets, and batch headers to print, credit unions have more demanding form validation requirements than retailers, so easy form insertion is an important consideration. Finding a printer with a large head-gap, the distance between the print head and the paper, is key. In this particular area, inkjet printers historically have had a distinct advantage over impact printers. Credit unions can choose between several manufacturers of receipt and validation printers. Sometimes the array of products can be confusing, but knowing the right questions to ask can help.