JACKSON, Miss.--Concerned that keeping its ATMs in compliance would get too expensive and require new machines, Mississippi Postal Employees Credit Union has turned over management of its ATMs to Houston-based Dolphin Debit, the full-service ATM management company. The $61-million MPFCU has 4,200 members and two ATMs.
"The machines barely made the upgrade for ADA (Americans with Disabilities Act). That was a huge expense," said Katie Nelson, CEO and Manager of Mississippi Postal ECU, in a statement. "They really wouldn't have been able to handle any additional upgrades. So with EMV coming, I knew we were going to have to have new machines."
Dolphin Debit reported that MPFCU checked out three companies, and chose Dolphin based on service, price, and the fact that Dolphin includes all upgrades and will make sure Mississippi Postal ECU stays in compliance.
Ben Allen, President of Dolphin Debit, said that for some credit unions and banks, particularly those with older ATMs, the cost of compliance is going to be a growing concern.
"The upgrades needed for the switchover to EMV are pretty significant," Allen said. "We expect a lot of financial institutions to take a look at that cost over the next several months and conclude that it's smart business to get out of running their own ATMs."