NetDeposit LLC and CU Business Group have signed an agreement to bring remote deposit capture to the CUSO's more than 300 credit unions.
The more than 300 credit unions served by CU Business Group, a business services CUSO, will have access to remote deposit capture through an alliance with NetDeposit LLC.
Compared to banks, credit unions are holding their own when it comes to keeping member business loan delinquencies and charge-offs at a minimum.
There's just no comparison between a foreclosure or walk-away from a $5.4 billion Manhattan 56-building complex and a defaulted loan on a small retail space in a strip mall.
Fifty percent of member business loan delinquencies are concentrated in 18 of the 698 credit unions that hold 95% of all MBL dollars, according to analysis from CU Business Group.