Now Credit Unions Can Use Video ATMs for Underbanked: Here’s How It Works
The National Credit Union Administration (NCUA) has recently ruled that uGenius‘s video ATM product “fulfill accessibility criteria mandated for reaching underserved areas.”
Credit unions have guidelines as part of their charter for reaching underserved areas.
Some of the NCUA requirements for video technology include:
- Providing real-time, face-to-face video access to live tellers
- Using credit union employees as the tellers
- Allowing members to conduct all transactions available at a typical branch facility
- Physically located within an underserved area or within reasonable proximity
The approval from NCUA should bolster uGenius’s sales pitch. Here’s a demo of the company’s product:
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