Credit unions have guidelines as part of their charter for reaching underserved areas.
Some of the NCUA requirements for video technology include:
- Providing real-time, face-to-face video access to live tellers
- Using credit union employees as the tellers
- Allowing members to conduct all transactions available at a typical branch facility
- Physically located within an underserved area or within reasonable proximity
The approval from NCUA should bolster uGenius’s sales pitch. Here’s a demo of the company’s product: