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 January-20, 2010 issue of Credit Union Times Magazine • Subscribe!
CU*Answers to End Deposit Encoding
In another sign of the Check 21 times, CU*Answers said it is going to stop offering direct deposit encoding processing to its clients, effective April 30.
The provider of data and electronic check processing services cited the "many documented benefits for moving to a Check 21 solution" in its announcement.
They include reduced use of paper and dependence on courier services as well as enhanced image retrieval and disaster recovery, the company said. Remaining direct deposit encoding clients also have seen courier costs rise significantly because of reduced volume, CU*Answers said.
The CUSO is recommending the CheckLogic solution from its eDOC Innovations partner to its clients, and said it is being installed in multiple credit union locations.
CU*Answers currently serves about 165 credit unions and is based in Grand Rapids, Mich.
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!