The $636 million University of Michigan Credit Union in Ann Arbor, Mich. recently opened two virtual branches that utilize remote video conferencing, ATMs and mobile devices to provide services typically available in traditional branches.
The virtual branches, located on the University of Michigan – Flint and Washtenaw Community College campuses, allow members to video chat with representatives located at the credit union's headquarters.
Remote conference technology, as well as iPads, let members deposit checks and apply for car loans and Visa credit cards without a credit union employee present.
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