Credit unions that participate in CO-OP Financial Services will soon be able to offer check imaging services to their small business and entrepreneur members.
CO-OP markets its check imaging service under the name CO-OP My Deposit.
"This expansion of our check imaging suite allows credit unions to target a lucrative and underserved segment in today's economy-small business owners," said Stan Hollen, CEO, CO-OP Financial Services. "The upgraded CO-OP My Deposit is a perfect fit for small- to medium-sized businesses, as well as schools, religious organizations and non-profit associations, that need to deposit checks on a regular basis."
Small businesses benefit from check imaging though shorter float times, ability to make online revisions and adjustments and ability to obtain receipts by e-mail, the CUSO said.
Participants will have to purchase service capable scanners from an online store run by CO-OP. Scanners will include those than can scan both sides of one check at a time to those that can process many checks swiftly, the CUSO added.