Amplify Touts Success of Honor Deposit Service
AUSTIN, Texas -- Amplify Federal Credit Union said it's taking in more than $300,000 a month four months after launching its honor deposit solution.
The HomeDeposit service uses technology from Jwaala Inc., an Austin-based startup and CUSO of Amplify whose flagship product is the MoneyTracker online banking personal finance manager.
In addition to an increase in deposits, the credit union also is seeing a jump in new checking accounts, according to Kent White, senior vice president of marketing at $470 million Amplify (www.goamplify.com).
The HomeDeposit system allows pre-qualified members to make deposits online and mail the check in later.