RALEIGH, N.C. — The $660 million Local Government Federal Credit Union has rolled out an informational kiosk that will allow members to get financial data from their accounts and human resource data from their employers that are LGFCU SEGs.
Dubbed Compass, the kiosks will answer employee questions about employee benefits, retirement, sick leave and holidays and will answer member questions about account balances and allow them to manage accounts, pay bills and apply for loans. The machines will not dispense cash.
For local governments with a human resources management System in place, Compass will access the existing system. For those without such a system, LGFCU has partnered with a third-party vendor to develop one at low to no initial cost. The kiosk, which is also being offered at no cost, is remotely monitored for maintenance and service calls will be paid for by LGFCU.
“Compass represents a consolidated approach to financial management,” said LGFCU President Maurice Smith. “For most consumers, their financial resources are managed from two different perspectives: work and home resources.”
Financial resources at work include retirement funds, vacation/sick leave, insurance products and other employee benefits. At home, financial resources include credit union deposits, mortgages, auto loans, insurance, investments and other financial assets.
“LGFCU believes there is a disconnect when consumers do not link the two areas of finances when making critical decisions,” Smith said. “Compass allows a member to consolidate his or her financial picture and make more informed decisions.”
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