Five County Credit Union Using FairPoint's Network to Offer Maine's First-Ever Video Banking System

FairPoint's network positions Five County Credit Union to deliver innovative banking solutions to its customers

 

Media Contact:

Jeff Nevins
207.535.4170
jnevins@fairpoint.com

Portland, Maine (August 14, 2012) - FairPoint Communication's carrier-grade, high speed network has enabled Five County Credit Union in Bath, Maine to dramatically change the way banking is done in the state. The $204 million, 23,853-member credit union is the first financial institution in Maine to offer the uGenius Video Banking System, including Personal Teller Machines (PTMs) and SmartOFFICE stations at its branches.

When Five County was searching for innovative ways to leverage staff, utilize a smaller, more efficient operational footprint, and increase efficiencies, while also extending hours and reaching more members, video banking was a potential solution. However, Five County needed to find a technology partner that could deliver a high speed connection to deliver the bandwidth needed to ensure that this cutting edge technology worked flawlessly. That's when Five County turned to FairPoint Communications.

"Video banking technology revolutionizes the delivery of traditional teller services and is the future of banking," said Michael Foley, Vice President of Sales and Business Development for Five County. "In order for it to be successful, video banking requires an enormous amount of bandwidth to ensure a flawless audio and video interaction between members and staff, who are located up to 70 miles away from each other. We knew we needed Carrier Ethernet services to accomplish our objective - something we could get from FairPoint. Their service was invaluable and the company was completely responsive to our needs in a timely fashion."

Five Personal Teller Machines (PTMs) have been installed at Five County's two newest branches - three in the Brunswick branch and two inside the Skowhegan Wal-Mart Super Center. PTMs look much like standard ATMs, but have top-mounted video screens and slightly deeper surrounds for privacy. There, members can connect via video with one of the 16 highly-trained Five County Credit Union employees at a call center located in Lewiston, Maine for a variety of transactions including deposits, withdrawals, check cashing and general teller inquiries.

Two SmartOFFICE stations are also available at both branches to handle more sophisticated transactions. In a private setting Five County members can utilize the SmartOFFICE video technology to talk "face-to-face" with a representative who is qualified to provide a number of specialized services including a variety of loan products and new accounts.

Both the Skowhegan and Brunswick branches have on-site hosts available to assist members with initial questions. Foley noted that members have reacted quite favorably to virtual banking - especially after being shown how easy it is to use.

Five County Credit Union's PTMs, enabled by FairPoint technology, have allowed the financial institution to expand in an efficient, cost-effective manner; and the company plans to add more of this technology to future expansions and renovations.

"Since 2008, FairPoint has invested $279 million in its communications infrastructure and technology across northern New England," said Mike Reed, FairPoint's Maine state president. "This investment allows us to meet the growing technology needs of businesses throughout region. Our work with Five County Credit Union is yet another example of the strength of our network and capability of our employees."

Foley added that FairPoint's unparalleled expertise in high speed, Ethernet services made it possible for them to add two new branches. Today all of Five County Credit Union's 14 branches are now on the FairPoint network.

Click here to view a video demonstration of the uGenius Video Banking Systems that are available at Five County Credit Union.

To learn more about FairPoint's high-speed Internet and to obtain information about prices and bundled plans, residential consumers can call 1-866-984-2001 or visit www.FairPoint.com.

About FairPoint Communications, Inc.
FairPoint Communications, Inc. (NasdaqCM: FRP) is a leading communications provider of Broadband Internet access, local and long-distance phone, television and other Broadband services to customers in communities across 18 states. Through its fast, reliable network, FairPoint delivers affordable data and voice networking communications solutions to residential, business and wholesale customers. FairPoint delivers VantagePointSM services through its resilient IP-based network in northern New England. This state-of-the-art network provides Ethernet connections that support video conferencing, e-learning and other broadband based applications. Additional information about FairPoint products and services is available at www.FairPoint.com. You can also connect with FairPoint on Twitter (http://www.twitter.com/myfairpoint) and Facebook (http://www.facebook.com/myfairpoint).

Five County Credit Union
Five County Credit Union was founded by the employees of Bath Iron Works in 1956 and was then known as the "BIW Employees Federal Credit Union". In 1993, the credit union converted to a state charter, and its name was changed to "BIW Five County Credit Union". In July 2001, the name was further streamlined to "Five County Credit Union" to more accurately reflect its community field of membership. In 2006, the credit union's charter was expanded to allow us to serve three more counties. Five County Credit Union now serves those who live, work, or worship in the counties of Androscoggin, Cumberland, Kennebec, Lincoln, Sagadahoc, Somerset, Waldo & Knox counties.

SmartOFFICE and uGenius Video Banking System, are a registered trademarks