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Digital FCU Registers More Than 100,000 Members For RDC
MARLBOROUGH, Mass. (9/6/13)--Bolstered by a tech savvy membership and a hands-on education strategy, Digital CU has enlisted more than a quarter of its  membership in remote deposit capture.
Introduced in March 2008, online deposit helps members to remotely deposit checks via an Internet-connected PC, and through iPhones, Android phones, and corresponding tablets. Since then, DCU has handled more than $1 billion dollars through these very popular, self-service channels. In the process, the credit union has accomplished many of its original goals, including greater member convenience, reduced member attrition, an expanded reach for members who do not live near existing DCU branches, and reduced processing costs compared with more costly deposit channels such as shared branching and lockbox operations, said Julie Moran, DCU vice president of support services.
"Because we were one of the first financial institutions in the country that enabled members to deposit a check from their homes or business, we had to provide a lot of education on how to use the service," Moran said. But, because the service was so easy to use, members quickly grasped and embraced using it." 
An in-branch campaign with demonstrations of the RDC technology helped convince members of the convenience of the technology, Moran said. That effort continues today. Branch personnel are equipped with iPads, and they will demonstrate the service each time a member joins, as well as provide demonstrations to existing members who utilize the branch to deposit checks.
"A large portion of our membership is not close to a branch," Moran added. "Shared branching is pretty popular with them. This gave them a fast, easy way to make deposits."
While a good portion of DCU's membership base is located within New England, the credit union has members in all 50 states. Members who relocate outside the area are able to maintain their banking relationship because of DCU's strong online presence, and the ability to use online deposit.
DCU has also seen lower infrastructure costs for supporting lockbox operations for what was previously a very active deposit by mail operation, Moran said. In 2010, online deposit transaction volume surpassed mailroom volume for the first time, and the gap has continued to widen ever since, she added.
Also, DCU's members have become less reliant on shared branching to make deposits. Because online deposit is a relatively less expensive service than other deposit methods, the credit union has been able to redirect the costs normally associated with processing deposits. "This is a tangible cost savings," said Moran, "and we have been able to redeploy the resources across tens of thousands of these transactions for further service improvements for our members."


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