Members of Eastern Financial Florida Credit Union will soon beable to open deposit accounts and apply for loans over the phonethanks to its merger partner Space Coast Credit Union.

Eastern Financial, a division of $3.2 billion Space Coast inMelbourne, Fla., rolled out Express Services in August. In additionto new account and loan applications, the service will soon allowconsumers to apply for membership and credit cards via the phone.Over the next few months, Eastern Financial members will also beable open regular rate certificates of deposits and apply for afirst mortgage. The credit union said the phone service will notallow the opening of individual retirement accounts or special rateCDs. Space Coast has been offering Express Services for more than10 years to its members.

The Miramar, Fla.-based Eastern Financial said the new offeringreduces the average wait time to speak with a representative in thebranch from 30-45 minutes to less than 30 seconds. With ExpressServices, the average time to take a car loan application is eightminutes and 10 minutes to provide a decision. To open a newchecking account, the average time is four minutes and six minutesto process a new membership application.