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American Eagle Federal Credit Union (AEFCU) is a full-service, not-for-profit financial institution. Founded as East Hartford Aircraft Federal Credit Union (EHAFCU) in 1935 by 15 Pratt & Whitney Aircraft employees, EHAFCU prospered through the Great Depression by providing secure alternatives to banks. In 1996, EHAFCU changed its name to American Eagle Federal Credit Union (AEFCU) to reflect a broadened field of membership and expanded branch network. With a rich history in customer service and offerings, AEFCU prides itself as one of the largest community credit unions in Connecticut with more than 100,000 members and $1.3 billion dollars in assets.
Looking for ways to improve its own member service and operations, AEFCU participated in a retail scheduling efficiency study in late 2008. From this study, AEFCU found that it could realize a number of benefits by implementing a WFM solution, including minimizing overtime hours on weekends, reducing escalating costs within public branches and maintaining a 40-hour week workload for Credit Union branch staff.
“The scheduling efficiency study was the best thing we could have done because it showed us how a WFM system could help our branch managers create more flexible schedules and minimize overtime,” said Kevin Murray, vice president of branch operations and administration at American Eagle Federal Credit Union. “As a result, we immediately started our search for a solution that could provide us enhanced analytic capabilities, while meeting our growing scheduling needs.”
With the decision to purchase a WFM solution made, AEFCU evaluated five solutions. After narrowing the field to the two solutions with predictive capabilities, it selected GMT’s award-winning application, GMT Planet®. On September 26, 2011, Verint® Systems Inc. announced the signing of a definitive agreement to acquire, upon closing, Global Management Technologies Corporation (GMT).
“At the start of our search, we quickly realized we needed a solution that offered extensive predictive capabilities, rather than one that resembled an Excel spreadsheet,” said Murray. “Once we had narrowed down our list, we decided to speak directly to other credit unions who were using the WFM software solutions we were evaluating. The feedback from these conversations was clear – GMT Planet would be worth the investment in order to help meet both our staff scheduling needs as well as manage the rising costs of additional branches.”
Implementation of GMT Planet began in January 2009, and it was fully running within six months. Almost immediately, branch managers were able to see if their branch was overstaffed, evaluate the branch’s transactions and tasks, and modify staffing levels accordingly. Thanks to GMT’s predictive scheduling information, AEFCU was able to reduce staffing at certain branches when volume dictated it and add more part-time employees, increasing the ratio of part-time to full-time workers from 16 percent to 25 percent. Within two years, total employees decreased by 14 percent through natural attrition and better forecasting.
By outsourcing its workforce management system, AEFCU found that it was able to deliver a better member experience at a much lower cost of labor. For example, from 2008 to 2009 AEFCU reduced branch overtime by more than 86 percent; from 2009 to 2010 more than 96 percent. “We’ve experienced dramatic improvements in workforce scheduling using GMT’s solution,” said Murray. “GMT Planet 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.”
By using GMT Planet’s forecasting and predictive capabilities, branch managers are now able to effectively forecast full- and part-time branch staff, fully utilizing all resources and reducing the float pool by 39 percent. And the intuitive web portal allows them to edit schedules, manage absences, and generate reports with ease and efficiency.
AEFCU remains the largest community credit union in Connecticut with plans for two additional branches in 2012. “We have enjoyed the relationship with GMT and are so confident of GMT Planet’s capabilities that we recommend this workforce management solution to other credit unions looking to optimize their workforce,” said Murray.
About Verint Systems Inc.
Verint® Systems Inc. (NASDAQ: VRNT) is a leading provider of Actionable Intelligence® solutions and services for enterprise and security intelligence. Our solutions help organizations make timely, effective decisions for improving enterprise performance and making the world a safer place. Today our solutions are used by more than 10,000 organizations in over 150 countries, including more than 85 percent of the Fortune 100. Verint is headquartered in Melville, New York, with offices worldwide, 3100 dedicated professionals, and an extensive global network of selling and support partners. Verint is a member of the US broad-market Russell 3000 Index. Read more about Verint.