Community One FCU goes paperless.. well almost

<p>CARLSBAD, Calif. – While some credit unions dream of the day they can have a paperless office, others are aggressively pursuing that dream. The $130 million Community One FCU, Las Vegas, recently said it will be eliminating multi-part paper receipts at its branches by capturing receipt data and member signature data electronically using Bluepoint Solution’s Receipt Manager product. Hal Tilbury, Bluepoint’s CEO, said credit unions can save between five and ten cents per receipt over a seven-year cycle by moving to electronic storage of receipts. Tilbury cited the seven-year savings because federal regulations require credit unions to store receipts for seven years. “Receipt Manager eliminates the need for two-part paper receipts and a wide range of costs associated with their management,” said Tilbury. “Customer service and teller balancing are enhanced, and the annoyance of dealing with the paper burden is eliminated. Depending on a credit union’s volume, we have seen costs reduced by as much as $6,000 a month,” said Tilbury.</p>