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The advent of Check 21 item processing is causing credit unions to examine changing from obsolete microfilm and imaging systems that they implemented 10 or even 20 years ago. Credit unions that are evaluating moving to Check 21 for image exchange most often will rely on their CFO or back-office operations people to evaluate the options and make recommendations.

Most credit union CFOs now understand the benefits to be gained by moving to Check 21 technology. Elimination of courier costs, reductions in float and the ability to jettison old, unreliable and expensive-to-maintain equipment are all reasons to entertain making a move to Check 21. The handwriting is on the wall. Within the next few years ALL credit unions will discard their obsolete methods of collecting and managing deposited items. Microfilming, copying and scanning of checks will just go away! The electronic check truncation legislation, commonly referred to as Check 21, that went into effect in October of 2005 has raised the playing field to a new level. Elimination of tedious and time consuming balancing and cash letters combined with the benefits mentioned above are tugging at credit unions to get with it and move to Check 21. It is not a question of will it happen, but one of when will it happen.

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