WALLINGFORD, Conn. -- Constitution Corporate Federal Credit Union has converted its check processing operations to be 100% electronic.
Constitution Corporate changed its operations to FedReceipt Plus, the Federal Reserve Bank's image in-clearing product.
"FedReceipt Plus completes Constitution's Check-21 implementation and allows us to pursue in-clearing business from outside of New England," said Noreen Lagasse, senior director of item processing. "The move to FedReceipt Plus occurred simultaneously with the retirement of Constitution's final sorter, with remaining paper-based checks from members being converted to image in our back office. Constitution's check payment system has been transformed from paper-based to one that is 100% electronic, thereby improving both service and reliability of payments."
Constitution uses ImageXchange as a component of its Check-21 product suite, to scan, endorse, encode and perform automatic balancing of all items.