DULUTH, Ga. - Cooperative Services Inc. has its first merchant capture user, the suburban Atlanta CUSO said.
Excel Federal Credit Union in nearby Norcross will offer the service as a way to capture member business as well as their checks.
The service allows businesses to deposit checks remotely, eliminating the need to take them to the credit union. Streamlined daily deposit preparation, balancing and amount qualification, as well as improved availability of funds also are included, according to CSI, a CUSO of Georgia Central Credit Union.
CSI Senior Vice President Jerry Keenan said CSI and Georgia Central also are readying a Web site promoting merchant capture. Free to CSI merchant-capture customers, it can be custom-branded by credit unions to promote merchant capture to businesses.
"It really is a great way for credit unions to establish that business relationship and then grow their membership from there," Keenan said.