WASHINGTON — Members of credit unions affiliated with CO-OP Financial Services will soon be able to deposit their checks in their credit union accounts using a smart phone.
CO-OP's My Deposit Mobile is currently an application on Apples' iPhone platform but CUSO executives said they are working toward having a version of the application available for the Google Android by the end of 2011.
The application takes a picture of a members' check and transmits it to the credit union in an imaged format the CU can use to clear the check and deposit the funds in the members' account.
The CUSO already has a service called My Deposit which allows members at affiliated credit unions who have an internet connection and flat screen scanner, common on most home computer printers, to scan checks at home for remote deposit.
The new app was a hit CO-OP's booth at CUNA's Government Affairs Conference in Washington DC with credit union executives asking how they could add it to their iPhones on site.