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Credit unions are playing catch-up to banks when it comes to business deposit products and services. Every national bank and most community banks offer remote-deposit capture services for businesses both large and small. According to CU Business Group’s 2010 “Business Deposits Benchmarking Survey,” only 8% of credit unions offering business services have remote-deposit capture as part of their package of services. The bar keeps getting raised, and my view is that RDC is now a must for credit unions to effectively compete.

Peter Westerman

Credit Union Times

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