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Credit Union of Ohio in Image Exchange Mode on Forward Deposits

COLUMBUS, Ohio - Full-blown image exchange may still be a year off, but the $83 million Credit Union of Ohio is already getting a lot of mileage out of image exchange on the forward deposit side. The CU is one of the first in U.S. to collect, archive and settle...

By Staff Writer | Updated on August 30, 2005

COLUMBUS, Ohio – Full-blown image exchange may still be a year off, but the $83 million Credit Union of Ohio is already getting a lot of mileage out of image exchange on the forward deposit side. The CU is one of the first in U.S. to collect, archive and settle its members deposits electronically with the Fed. Credit Union of Ohio is utilizing Corporate One Federal Credit Union’s Automated Capture Exchange solution. The credit union scans images of the checks, archives them in a searchable database, and presents the images to the Federal Reserve for clearing.

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