The $1.4 billion Schools Financial Credit Union in Sacramento, Calif., has replace the item processing work it had been doing with a failed corporate credit union with an in-house system from Bluepoint Solutions Inc., the company and credit union said.
Functionallity includes direct transmission and receipt capabilities with the Federal Reserve, as well as daily in-clearings processing, lockbox remittance, Check 21 imaging, branch capture and transient-file aggregation, the company and credit union said.
The company converted the 112,400-member Schools Financial to its end-to-end check capture and processing software in less than four months, they said.
“With the impending phase-out and dismantlement of WesCorp, it was imperative that we find a new, reliable partner for our item processing,” said Jim Jordan, Schools Financial president/CDEO.
Henderson, Nev.-based Bluepoint Solutions said it now serves more than 1,800 financial institutions.