The $463 million First City Credit Union in Los Angeles plans to deploy Check 21 solutions from VSoft Corp., the company and credit union said.
The 58,000-member credit union plans to use the Atlanta company’s image exchange and settlement solutions, including in-clearings, returns and archive services. VSoft’s in-clearing accepts electronic cash letters from image exchange networks, the Federal Reserve and other financial institutions.
“We selected to outsource our image exchange and settlements to VSoft because of its system’s module approach and the ease with which our credit union can implement additional solutions in the future,” said Jim Miller, senior vice president/CFO at First City CU.
First City CU was founded in 1937 to serve Los Angeles County employees. It now has nine branches and is open to membership to people who live or work in many communities throughout Los Angeles and parts of San Bernardino counties.
VSoft said it has now provided software and services to more than 1,900 banks, credit unions and savings institutions, as well as transaction processors, governments, utilities, telecommunications and retail organizations worldwide.