Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Southeast Corporate image capture pilot a success
TALLAHASSEE, Fla. (5/20/08)--Southeast Corporate FCU's Virtual Deposit Merchant Capture, which lets businesses make deposits remotely into a credit union account, has undergone a successful pilot with Florida Telco CU, Jacksonville, the corporate announced Monday. The $450 million asset Florida Telco and one of its business members, a carpet cleaning company, are piloting the product and are live with Merchant Capture. "We installed a check scanner at the carpet cleaning company's headquarters," said David Marovich, business account officer at the credit union. "Our member was making a 20-mile round trip to make daily deposits at the nearest Florida Telco branch. The owner drives a Ford Expedition, and she is excited about how much she is saving on gas, let alone time," Marovich added. Business members can scan their checks for deposit at their place of business with scanners. The check images are then transmitted through Southeast's secure Web-based product. The deposits go into a separate account. Then the credit union retrieves, reviews and posts them to the member's account, Marovich said. "So far things have gone smoothly and our member loves it." He has a waiting list of businesses interested in the service. One, a medical supply company run by three women, is located in a questionable neighborhood, he said. They won't have to leave the office to make deposits. Marovich noted that the remote deposits also cost the credit union less to process.


RSS print
News Now LiveWire
NCUA re-schedules start of tomorrow's closed meeting to 9 a.m. ET. Open meeting still at 10 a.m. ET.
8 hours ago
.@lisamurkowski @SenatorEnzi @SenJohnBarrasso are latest to weigh in on NCUA risk-based capital proposal. See #NewsNow tomorrow for more
9 hours ago
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
11 hours ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
13 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
14 hours ago