MARLBOROUGH, Mass. (11/30/15)--A hearing by the Massachusetts Joint Committee on Financial Service included testimony from the Cooperative Credit Union Association (CCUA) that included ATM safety.
At last week’s hearing, CCUA noted its support for Senate 508, which proposes establishing a commission to study the pervasiveness and characteristics of criminal activity at ATMs and potential security requirements to better protect ATM users, Daily CU Scan reported (Nov. 25).
The commission would determine enhanced security measures such as additional lighting, surveillance cameras, locking-entry doors and parking restrictions.
In its testimony, CCUA noted that it strongly supports member safety, yet “overly restrictive requirements may not achieve the intended results;” hence the need for the commission’s work.
Credit unions have roughly 400 ATMs at their branches with hundreds more located at third-party locations to provide even more convenient services to their members. “It is more than a small possibility that were certain inflexible requirements mandated, Massachusetts credit unions would be forced to limit the availability of these ATMs, or possibly even close them, thereby reducing the options for the consumer,” the testimony reads. The implications could be particularly harsh on small credit unions that may not be able to manage extremely costly measures.
CCUA also expressed the need to have a designated seat on the proposed commission.