CO-OP Financial Services and ATM manufacturer Diebold have begun beta-testing an ATM which will allow members at shared branching credit unions to make those transactions at the ATM.

Dubbed the CO-OP NextGen ATM, the machines will allow members to conduct almost all the same transactions that they would at a shared branch credit union, including loan payments, at the ATM.

The new beta testing ATM is in a drive-up location at the main branch of the Red Rocks Credit Union, a 17,000-member, $223 million institution in the Denver suburb of Highlands Ranch, Colo.

“Red Rocks CU is a great partner in the development of CO-OP NextGen ATM, which is going to help all credit unions get more out of their existing ATMs and improve the member's self-service experience,” said Stan Hollen, president/CEO of CO-OP Financial Services in Rancho Cucamonga, Calif.

Jason Nelson, the credit unions' vice president of service, said, “Our credit union is passionately focused on providing greater financial returns to our membership as a result of increased operational efficiencies and lower operating costs. Reducing the costs associated with transactions is an important part of that equation. At the same time, our members desire a simplified, intuitive technology experience.

“This next generation of ATM technology promises to enhance that experience. It also allows us to provide our members with secure, 24-hour access to all of their accounts. This was an opportunity we couldn't pass up.”