In 10 years, most credit unions will no longer use tellers to conduct routine member transactions such as deposits and withdrawals, according to two executives who are involved in the move to so-called "teller-less" branches.
University Federal Credit Union Chief Operating Officer Steve Kubala has been actively involved in helping his 134,000-member Austin, Texas, credit union shift to the new model and which the CU expects to unveil in January 2012.
Kubala explained the $1.4 billion institution wanted to do more than just replace tellers with kiosks or ATMs. Instead the CU wanted to change the entire experience of visiting a branch.
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