VSoft Corp. said it has landed the Check 21 business at the $463 million First City Credit Union in Los Angeles.
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 has now provided software and services to more than 1,900 banks, credit unions and savings institutions, as well as transaction processors, governments, utilities and retailers.