Without a doubt, Check 21 and remote deposit capture have forever changed the business of banking. As the most important developments in check processing since the MICR line, they enable financial institutions to enter the age of all-electronic check processing, vastly improving operating efficiencies and providing hard-dollar savings.

From the beginning, industry experts knew Check 21 could reduce costs related to back-office operations, transportation and paper handling. And they fully expected it to ensure faster funds availability. But fewer recognized the full potential of RDC beyond bricks and mortar. RDC for consumers and small businesses gives institutions a major competitive edge that saves money and ensures customer satisfaction.

Still in its early-adopter stage, consumer RDC is beginning to grow like wildfire, and as with services such as ACH and check truncation, credit unions are leading the way. When EasCorp first launched its consumer RDC program, DeposZip, no other commercial service provider-for banks or credit unions-was offering a similar service. Now, it's catching on with many more providers entering the space and a vast multitude of users performing transactions through these channels. It's no wonder. RDC helps reduce costs, attract and retain members and strengthen the bottom line.

Offering members the option of making deposits from their homes or office means your credit union can:

o Shorten lines in branch lobbies and at drive-up windows;
o Free up front-line and back-office staff time;
o Decrease the need for printed deposit envelopes with pre-paid postage;
o Ease concerns about mail fraud; and
o Reduce overall check handling costs.

With consumer RDC, the average cost to collect a check is less than half what it once was-resulting in real, hard-dollar savings. What's more, members like the time-saving, anywhere-access aspect of making deposits right from their home computers.

Credit unions offering consumer RDC find it appealing to a broad range of members. By giving members the ability to make deposits from their homes or offices-particularly those whose lifestyles or work schedules don't align well with standard branch hours-credit unions are providing the ultimate in member convenience while expanding their footprint in the marketplace.

At-home depositing was initially targeted to military personnel stationed across the country or overseas, and many credit unions whose members include servicemen and women were the first to embrace it. RDC allows members in the armed forces to keep their hometown credit union as their primary financial institution, no matter where they are based.

Other members attracted to consumer RDC include those who travel frequently or are often away from home for long periods. Whether for their jobs, college or a change of climate, members who are away can remain connected to their credit unions. While Web sites, online banking and ATM networks give travelers access to many of the financial services they need, RDC provides the deposit piece, completing the credit union's online service offerings.

As more members take note of its convenience and natural fit to their daily lives, consumer RDC's broad-based appeal is growing. This includes Gen Xers, tech-savvy members, shift workers, time-pressed parents, retirees and convalescents-anyone who can benefit from making deposits without leaving their homes or offices.

As your credit union weighs the benefits of consumer RDC, there are some key questions to factor into your decision-making process.

Is the timing right? With technology changing at breakneck speed, it's sometimes best to take a wait-and-see approach. But today's consumers are constantly on the move and demand more from their service providers. Consumer RDC helps smart financial institutions value their customers' time and need for convenience.

What are the service fees? As more providers enter the at-home deposit market, ask questions and compare costs. Look for a provider that doesn't require expensive equipment or high maintenance fees. With the right provider, consumer RDC doesn't cost; it pays.

What scanning equipment will my members need? Many consumer RDC programs only require inexpensive, household scanners; the same scanners already found in many homes today. Most standard desktop scanners create high quality scans, resulting in legible check images.

How can we control our risks? A reputable service provider will incorporate a variety of risk control tools into its remote deposit capture program. Credit unions should expect to have control over members' access to the program and system parameters such as deposit limits and other review criteria. Duplicate detection, image quality and usability testing, and amount recognition should be standard features of any offering. Careful management of the variety of risk tools should give your credit union the ability to control risks to an acceptable level.

For credit unions, implementing consumer RDC offers the potential for member growth, as well as immediate back-office and bottom-line savings. But the greatest advantage may be what your members gain: the ultimate convenience of making deposits anytime and anywhere they want.