Ipava State Bank has launched new Integrated Teller Machines (ITMs) in Peoria Heights and in the drive-thrus for Astoria, Canton, Ipava, and Lewistown, offering an innovative banking option for customers. Additionally, the bank has improved building efficiency by installing commercial solar power systems for three ISB locations: Canton, Lewistown, and Washington.
“We are proud of our efforts to seek new ways of operating more efficiently while investing in our community,” said Lewis Pigg, President of Ipava State Bank. “Our decisions are based on what will serve our customers best and what will matter most to them. For us, that meant improved technology and building efficiency.”
The new ITMs installed at Ipava State Bank are not to be confused with the more commonly known ATM. The interactive machines allow customers to talk via video with an ISB teller during banking hours.
“While some in the industry are investing in brick-and-mortar, we felt our customers would benefit more if we invested in technology, especially during a pandemic,” said Pigg. “For customers who really value the branch experience and feel comfortable banking in person, most of our locations offer lobby hours.”
Through live audio and video, the ITMs can help customers cash checks, regardless of the amount, ask questions and discuss transactions, make loan payments, deposit funds without an envelope or deposit slip, and withdraw cash—even in $1 increments. If a customer does not need to video chat with a teller, the ITMs can still be used for traditional ATM functions at any time.
“We considered the future of banking. Customers expect excellent service, whether it’s digital or in the branch,” said Joe Dietz, CEO and Chairman of the Board of Directors, Ipava State Bank. “How do we meet that expectation? By keeping our locations a modest size and investing in efficiency and technology.”
ISB says they are already getting great feedback from those who have used the ITMs. “Our customers love them compared to the old drive-thrus. The technology is remarkable. It’s changing banking for the better,” said Pigg. “We are proud to be at the forefront of this innovation in customer service.”
The solar power project was designed and installed by Quick Electric, a central Illinois electrical contract firm based in Fairview, Illinois. “Our goal is always to partner with and support our local businesses,” Dietz said.
“Solar power has become an undeniably sound, long-term investment. Between the three ISB locations, we installed close to 150 solar panels. The bank will realize an average of 175% ROI within about seven years,” said Lisa Quick, President of Quick Electric.
“Switching to solar power at some of our locations gives us an opportunity to pass on efficiency savings to customers and shareholders while making strides in sustainability,” said Dietz. “There is nothing frivolous about this upgrade.”