ARLINGTON HEIGHTS, Ill. -Meadows Credit Union is the latest to partner with CashEdge, a facilitator of online money movement between institutions. Through the relationship new members can open an account with Meadows instantly via the CU's Web site. Members will also be able to transfer funds between any two accounts at over 23,000 financial institutions, and to send money electronically to anyone. "Integrating CashEdge into our online offering will allow people to both open accounts, and fund them immediately online from another financial institution. We expect this to have a big impact on the ease with which we can add new members," said Meadows Credit Union Director of Marketing John Antos. CashEdge claims that its own research shows institutions that offer the service will see more dollars flow in than out. "These technologies are particularly valuable for credit unions. Having moved over $125 million for our clients, we have witnessed that in the case of credit unions, for every $1.00 their members transfer out, $3.00 flow in," said Dilip Venkatachari, President, CashEdge.
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the "Reprints" link at the top of any article.
From the June-04, 2003 issue of Credit Union Times Magazine • Subscribe!
Meadows CU is Latest CU to Partner with CashEdge
Want the latest credit union news?
Sign up for our free newsletter today! All the breaking credit union news and information you need to make the right decision for your credit union delivered to your inbox. For free!
Thanks for subscribing, you will start receiving the Daily News Alert tomorrow!
Comments
Resource Center
View All »
Measure and Monitor the Risks and Opportunities in Loan Portfolios
Get a complimentary demo of our loan portfolio analytics and access to the white paper,...
