CU*Answers said it is discontinuing its direct deposit encoding processing service this spring.

The Michigan-based provider of data and electronic check processing and other services to about 165 credit unions cited the "many documented benefits for moving to a Check 21 solution" in its announcement.

They include reduced use of paper and dependence on courier services as well as enhanced image retrieval and disaster recovery, the company said. Remaining direct deposit encoding clients also have seen courier costs rise significantly because of reduced volume, CU*Answers said.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.