UPost Could be Just What eCU Technologies Needs

HARRISBURG, Pa. – Coming off the somewhat disappointing news that four of its consultants were leaving the CUSO to start their own consultancy, eCU Technologies shortly after announced some very encouraging news for the CUSO’s future. Four CUs – including three with more than $1 billion in assets – are going to roll out eCU’s UPost Solution. UPost allows members to go online and enter deposits and get immediate access to funds. The members then have to mail their deposits to the CU. When it was first launched by Pennsylvania State Employees CU, eCU’s parent CU, a few years ago critics said it would be hit with fraud, however the “channel” actually has less in losses than the CU’s ATMs. So far having taken in well over a million dollars, it’s only lost about $13,000. The UPost product is not tied to Symitar, like other eCU Technologies’ offerings so it could be used as a way to get the CUSO penetration in non-Symitar CU shops. The four CUs that signed on are the following: $1.1 billion Washington State Employees CU, $200 million Fort Belvoir CU, $1.3 billion Affinity FCU and $1.1 billion Schools Financial CU. Each of these CUs has a large remote membership base making UPost a good fit. They also say they are looking to bypass ATM fees and cut down on lines in their branches.