Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS – The trend of less check writing isn’t showing up at Southwest Corporate. The corporate’s item processing volume increased 2.5% last year to a record 360 million items, up from 349 million checks in 2002. This bucks the national trend of checks in the system declining at a rate of 4.8%. December was also an individual record month for Southwest with 34 million checks processed. Southwest has processing centers in Dallas, Houston, Jacksonville and Albuquerque. Although the corporate’s numbers were up, it too is noticing a decline in checks per CU. It reported volume decreases of as much as 8% among a group of select credit unions that it tracks. “Southwest Corporate recognizes that the volume of checks we process will eventually flatten and then decline as consumers embrace various methods of electronic payments,” said Jody Beck, Senior Vice President of Operations. “To meet that growing interest, Southwest Corporate has developed a full array of electronic payment products to help credit unions keep up with the changing marketplace with services.” For example, more than 150 credit unions offer Southwest Corporate’s debit card program. Members at those credit unions made 5.1 million debit card transactions during 2003-a 38% increase over the 2002 debit card volume.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.