Skyline's DirectFED Payment Solutions said it has signed the $124 million Right Choice Credit Union of Houston and the $4.2 million University of Pennsylvania Students Federal Credit Union of Philadelphia as users of the Los Angeles company's remote-deposit capture solution.
"Signing on with Skyline's DirectFED was optimal in the fact that they have the ability to clear funds the very next day and the ability to receive returns back within 48 hours," said Mike McWethy, vice president of retail sales and branch operations of Right Choice.
"By signing on with Skyline's DirectFED to use their RDC software, there will be even more of a savings for our members since the process results in the elimination of float and assessment fees, fast access to their capital and optimization of profits and funds availability," said Jessica White, chairman of the board at the University of Pennsylvania Students FCU.
Skyline's DirectFED said it has processed more than 8.5 million checks totaling more than $7.1 billion for its client list of more than 100 financial institutions, including 35 credit unions. It also has just released a mobile-capture version, the company said.