The $1.3 billion American Eagle Federal Credit Union of East Hartford, Conn. has significantly reduced overtime and full-time employee costs since it began using workforce management software from Verint Systems, the New York-based provider of workforce optimization and security intelligence solutions said.
American Eagle FCU deployed Verint's GMT workforce management software in 2009 and has since increased its ratio of part-time to full-time workers from 16% to 25%, reduced branch overtime by 86% in the first year and 96% in the second year, and brought down full-time employee costs by 14%.
“Verint's GMT workforce management software was worth the investment to help meet both our staff scheduling needs, as well as manage the rising costs of additional branches,” said Kevin Murray, vice president of branch operations and administration for American Eagle FCU. “The software has paid for itself in full through the first year of savings alone and is a testament to the benefits of implementing a flex schedule.”
The GMT software measures how closely workforce supply matches member demand, helping branch managers determine whether they are over or understaffed, Verint said.
“With increasing cost pressures and a growing focus on member satisfaction, credit unions are turning to technology for creative solutions,” said Simon Angove, senior vice president of retail financial services for Verint Enterprise Intelligence Solutions. “A workforce management system can help credit unions, such as AEFCU, deliver a better member experience at a much lower cost of labor.”
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
