Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
New ATM checking technology appeal to younger set
RANCHO CUCAGMONGA, Calif. (12/14/07)--The average age of a credit union member is 47, which means credit unions must incorporate new technology to “start getting younger fast,” said Stan Hollen, CO-OP Financial Services president/CEO. Credit unions have begun using check-imaging capabilities, which 18-to-34-year-olds are adapting to, Hollen said. “Whether at the ATM, in-branch, at home, work or via kiosks, credit unions should begin deploying this technology on a large scale. Checks may be dipping in use, but they’ll continue to be a dominant payment mechanism for the future,” he explained. Check-imaging technology has a “strong youth appeal,” said David Sigal, vice president of finance for USA FCU in San Diego. “Transactions continue to grow, members are very comfortable using the technology, balancing and the image-proofing process is quick and easy, and we’ve found the cost of moving images is approximately 50% of moving paper items.” Check imaging allows consumers to place a check into an ATM kiosk, display the image on a screen and print a receipt. About 32 billion checks are written each year. Empty envelopes account for about half of all ATM fraud, according to CO-OP. CO-OP is a credit union service organization based in Rancho Cucamonga.


RSS print
News Now LiveWire
For the last 75 years, even in the most difficult of times, Mill Town #CU has been there for the community it serves. Read #NewsNow Tues.
8 hours ago
The 1st vid shows how consumer can become victim and, advice to those who think they've been targeted. http://t.co/hr9VHpzEze
12 hours ago
.@TheNCUA has released two videos designed to raise awareness of elder financial abuse. http://t.co/iddSxr7H40
12 hours ago
Celebrate #100MM with @MDDCCUA1 at Orioles v Blue Jays tonight at Camden Yards
12 hours ago
The At Home In Lawrence mortgage program from @MetroCU is designed to help revitalize Lawrence, Mass.
13 hours ago