MEMPHIS, Tenn. — CUSOs Share One, Inc. and Tellagent, LLC, have entered into a partnership to deploy a self-service kiosk called "FRED" that conducts electronic shared branch transactions and performs financial services quickly and conveniently. FRED incorporates a Fujitsu ATM as one of its components and allows credit union members to make deposits, without the need for an envelope or deposit slip, and withdrawals, pay loans and receive loan advances, transfer funds, and print account histories. FRED is Check 21 compliant and prints an image of each deposited check on the member's receipt. FRED can be deployed as a teller at a current credit union location or as a self-contained branch.

Tellagent, LLC, a CUSO of Paragon Federal Credit Union, has also partnered with both FSCC and CUSC Shared Branching networks. Eleven credit unions have already deployed FRED and five more units are currently on order.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.