Denali Alaskan FCU Shows Continued Dedication to Improving Teller Line Productivity and Reducing Transaction Costs.Denali Alaskan FCU FCU Federal Credit Union FCU Florida Credit Union FCU Fan Coil Unit FCU Fuel Control Unit FCU Flight Control Unit FCU Flexor Carpi Ulnaris FCU Familial Cold Urticaria FCU Fire Control Unit FCU Fused Connection Unit FCU Flow Control Unit management is committed to success Financial Management Solutions Inc. (FMSI FMSI Sons of Mary, Health of the Sick (religious order) FMSI Force Management System Interface ) announced that Denali Alaskan Federal Credit Union (DAFCU) has shown significant teller TELLER. An officer in a bank or other institution. He is said to take that name from tallier, or one who kept a tally, because it is his duty to keep the accounts between the bank or other institution and its customers, or to make their accounts tally. line productivity improvement and greatly reduced unit-labor costs. Productivity is based on the number of monetary transactions processed per hour, and unit-labor cost is calculated using only teller wage and benefits, no brick and mortar See bricks and mortar. expenses. FMSI is an Atlanta-based company providing financial institutions nationwide with monthly productivity and unit-labor cost analysis reports and optimum work schedules. The work schedules are unique to each location based on its transaction volume and traffic patterns. DAFCU has $159 million in assets with seven branch locations. The credit union has been subscribing to FMSI's services since October 1997. When initiating services, the credit union was processing an average 14.7 transactions per hour, and the cost per transaction was $0.69. In April 1999, the credit union had realized significant improvement over its original numbers, processing an average 16.9 transactions hourly at only $0.50 each. These numbers represent 15 percent improvement in productivity and 28 percent decrease in labor costs. "Better scheduling and trying to match the optimum work schedules provided by FMSI has been one of the greatest contributing factors of the credit union's success," said Bob Teachworth, president of Denali Alaskan Federal Credit Union. He further stresses that management is committed to the success of this project. To this point, DAFCU has implemented the services of FMSI without offering a teller incentive pay program. The credit union will implement a new incentive pay program to begin on July 1, 1999. FMSI works with each of its subscribers to develop an employee incentive pay program that is based on the Deming* model of rewarding the individual and the team. "It is important to recognize effort and accomplishment even if the final team goal was not reached by all members individually," said Scott. One challenge DAFCU continues to face is the part-time employees. "It is not uncommon for financial institutions to tightly hold onto the belief that full-time tellers and employees are the best way to staff a retail branch," said Michael Scott Michael Scott or Mike Scott may be: Novelists:
The credit union has been very successful with its use of part-time employees, but management has been slow to accept this practice, said Teachworth. Scott and Teachworth both agree that, "retailers such as JC Penney and Sears have used this system for years very efficiently, so there is no reason a retail branch cannot use the same staffing strategy." DAFCU sees the monthly reports as its operations report card. The credit union selected FMSI as its vendor for this service based on the company's reputation. About Denali Alaskan FCU Denali Alaskan Federal Credit Union is a not for profit financial cooperative which is the result of a partnership between Denali Federal Credit Union and Alaskan Federal Credit Union. The partnership between these two credit unions forms the third largest credit union in the state. For more information about Denali Alaskan FCU, call (907) 257-7200; or write to 3400 LaTouche, Anchorage Anchorage (ăng`kərĭj), city (1990 pop. 226,338), Anchorage census div., S central Alaska, a port at the head of Cook Inlet; inc. 1920. , Alaska, 99508. The credit union's Web site is www.denalifcu.org. About Financial Management Solutions Inc. Financial Management Solutions Inc., is an Atlanta-based company which provides products and services to financial institutions of all sizes to assist management teams in achieving cost reductions and productivity improvements without sacrificing the quality of customer service. FMSI services more than 60 banks and credit unions, providing monthly analytical reports to more than 3,000 branches nationwide. The company's client portfolio includes AmSouth Bank, LaSalle Bank LaSalle Bank Corporation is the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. With $116 billion in assets, it is headquartered at 135 South LaSalle Street in Chicago, Illinois. , Northeast FCU, TrustMark Bank N.A., and Union Planters Planters is an American snack food company under Kraft Foods manufacturing, best known for its nuts and the Mr. Peanut icon that symbolizes them. Started by Italian immigrants Amedeo Obici and Mario Peruzzi in Wilkes-Barre, Pennsylvania, in 1906, it was incorporated in 1908 National Bank. For more information about Financial Management Solutions Inc. contact Gordon Shaw, 2300 Henderson Mill Road Henderson Mill Road runs from Northlake Mall to Embry Hills in Metro Atlanta. South end: Briarcliff Road North end: Chamblee-Tucker Road Roads intersecting (from South to North):
Note: W. Edwards Deming William Edwards Deming (October 14, 1900–December 20, 1993) was an American statistician, college professor, author, lecturer, and consultant. Deming is widely credited with improving production in the United States during World War II, although he is perhaps best known for is the founding father of Total Quality Management business practices. |
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