HARRISBURG, Pa. — There now are 35 credit unions willing to let their members register deposits online and send the actual check in the mail using the UPost solution from eCU Technologies.
The two newest clients are $999 million Apple FCU in Fairfax, Va., and $272 million FedEx Employees Credit Association in Memphis, Tenn.
The FedEx association is branding the solution "Express Post" and plans to launch it in early 2008. As a single-sponsor credit union with worldwide membership, the service is expected to be a much-needed benefit, the CU says.
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"This has the potential to reduce the cost of our shared branching and ATM transactions, as well as underscore our commitment to service and convenience to our members," says Daniel Weickenand, CFO of FedEx Employees Credit Association.
Juan Batista, vice president of IT for Apple FCU, says his CU plans to go live with the service in January, starting out with employees and a few select members as a test.
"The majority of banks are implementing solutions where the customer uses a scanner to load images of their checks online," he says of his CU's competitive market.
"We chose instead a solution where members do not need a scanner at home. They go online, type in a few pieces of information from the check, and receive instant credit–and then mail us the check. We believe this solution is better for us because we don't have the resources to support and troubleshoot home scanners," Batista says.
"In a few short years UPost has gone from a 'risky' solution to a 'must-have' solution," says Alan Brunner, COO of eCU Technologies, a tech CUSO of $2.8 billion Pennsylvania State Employees Credit Union.
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