Western Corporate FCU is offering a new product that will provide a web-based tool to track and monitor branch, vault and ATM cash levels.
Cash Calcuator, offered by the Atlanta-based Ceto and Associates, will provide visibility into credit union branch and ATM cash trends by looking at historical and current cash levels, analyzing trends, and recommending appropriate cash order and deposit amounts right down to individual denominations, according to a WesCorp release.
"Our Cash Calculator takes into account not only a credit union's cash order history but its member cash usage as well," said Douglas Ceto, president of Ceto and Associates. "It takes the guess work or intuition out of the branch and ATM cash management process, giving the credit union customized and precise recommendations for ordering cash."
Cash Calculator also improves operational efficiencies by supplying centralized and accessible tools to improve cash audit controls. It has proven to reduce the amount of non-earning cash on hand by an average of 20%, thereby enabling excess cash to be better applied for investing or making loans, WesCorp said.
The new product will compliment WesCorp's Cash Ordering Services available on its Member Center.