Credit Unions Slowly Catching On To Envelope-Free ATMs.(News)

Byline: Frederick Lowe

Diebold Inc. and NCR Corp. had good news for investors when the companies recently delivered their first-quarter earnings. Executives of the two ATM manufacturers told analysts smaller financial institutions were starting to take an interest in machines that accept envelope-free deposits.

Two recent announcements involving Alliance Credit Union and Bellco Credit Union also suggest the market for intelligent-deposit ATMs may be growing beyond the very largest of banks.

Alliance, a bicoastal credit union with offices in San Jose, Calif. and Wilmington, N.C., signed a five-year integrated ATM-services contract with Diebold that includes deploying machines that support envelope-free deposits. The state-chartered credit union deployed five intelligent-deposit ATMs in California and four in …