Coastal Federal Credit Union received the 2012 Model Bank Award from Celent Research Services. Celent’s annual Model Bank report recognized Coastal as a pioneer in deploying uGenius Video Banking technology for its branch operations.
Celent’s Model Bank Awards showcase and profile inventive and exemplary efforts in banking. Coastal’s uGenius Personal Teller Machine system allowed the credit union to become the first financial institution in the world to transition to a 100% video banking system.
The technologically-enhanced interface allows tellers to provide traditional financial services to multiple branches from a single remote location for faster and more convenient service. With all branches fully converted, Coastal has been able to expand service hours by 86% while creating a 40% savings on staffing. Coastal’s branches now provide teller services from 7:00 a.m. to 7:00 p.m., seven days a week.
In winning this award, Coastal is among 21 financial institutions from across the world recognized by Celent as industry leaders for implementing best technology practices.