SALT LAKE CITY -- To make the busy lives of small business owners a little less hectic, Mountain America Credit Union has started offering business remote deposit.
The $2 billion CU began offering business remote deposit in late January and has already signed up eight businesses. Through a partnership with MoneyGram and Creative Payment Solutions, the new service allows business owners to scan and deposit checks directly from their place of business, anytime day or night.
"Saving time is often one of the most valuable services we can offer our small business owners," said Jared Johnstone, vice president of business services at Mountain America CU. "The credit union benefits also, by increasing branch efficiencies in transaction processing. That efficiency enables us to serve more members."
The credit union said it has more than 10,000 business accounts within its membership of 240,000 consumer members. Mountain America has been offering business services for nearly three years including Small Business Administration loans, commercial loans, cash management and insurance products.
Jacquetta McCracken, member and owner of G3 Enterprises, said, "The system is very easy to use. I love not having to make the drive to Albuquerque [200 miles round trip] to make my deposits. It just takes the couple of clicks just like Mountain America showed in the demo and the deposit is done. I figure that in just a couple of months it will have paid for itself in the amount of gas and time that I'll have saved."