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MURRIETA, Calif. – Four credit unions, including three in the billion-dollar club, are giving a first look to a new consultancy’s new address validation server. CUTEK, formed by a group of former Symitar and eCU Technologies staffers, says $3 billion Wescom CU, $2 billion Lockheed FCU, $1.5 billion Mountain America CU and $437 million Watermark CU should complete beta testing in January of the solution it calls Correio AVS. Correio AVS uses real-time, multi-point integration into Symitar’s Episys system to validate and standardize addresses from the massive United States Postal Service database, immediately mitigating any incorrect addresses for the future. “We’ve had 10 variations of a single address before,” says Kerry McKinnon, assistant vice president of information systems technology at Mountain America. “With nearly 200,000 members, that could add up. Our hope is that Correio AVS will help clean up our database. It will save so much in resources and set an address standard for the credit union.” CUTEK says it plans to release Correio AVS in January, followed by a hosted version later in the year. “This is a solution that credit unions need because they are expending large costs and in-house staff time in processing returned mail each month. It’s a huge financial and time expense – not to mention dealing with fraud issues. This is one in-house processing task credit unions can eliminate,” says CUTEK President Ron Murray.

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