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Rebate check mailing drives CUs remote deposit

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BURLINGTON, Mass. and UNIVERSAL CITY, Texas (6/25/09)--Credit unions looking to launch at-home remote-deposit check-capture solutions may want to take note of a credit union that launched its remote deposit when it mailed out annual rebate checks. Randolph Brooks FCU (RBFCU) launched its DeposZip remote deposit solution when it mailed members’ annual debit card rebate checks, which resulted in 7,800 users registering for remote deposit. The credit union did not plan for the two to coincide, but decided to take advantage of the opportunity, according to Mary O’Rourke, RBFCU assistant vice president of member service operations. “We were able to pitch remote deposit capture at the same time we provided members something in their hands that they could directly scan,” O’Rourke added. Remote deposit allows consumers to deposit their money into accounts at any time and anywhere they have access to the Internet and a scanner, RBFCU said. RBFCU, Universal City, Texas, has a mobile primary membership base. Military transfers and deployments are common, so the credit union is a good fit for remote deposit, said George Dow, vice president of business development at EasCorp. The corporate credit union developed DeposZip. RBFCU members have made more than $8 million in remote deposits since the credit union deployed DeposZip in February.

CUAnswers offers anti-fraud tips to CUs

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GRAND RAPIDS, Mich. (6/25/09)--When credit and debit cards are compromised, credit unions are faced with numerous struggles. CU*Answers, a credit union service organization (CUSO) based in Grand Rapids, Mich., has provided a list of tips credit unions can follow to prevent problems if a data breach occurs. CU*Answers suggests that credit unions:
* Push their credit and debit vendor for automated solutions--There might be tools and options of which they are unaware; * Get a compromised card list electronically--An electronic version of a list of compromised card numbers is often available from a card vendor, instead of a fax; and * Review options for fraud detection--Take advantage of the way networks can monitor and flag potential fraud.
CU*Answers also noted that if provided a list of compromised card numbers, it can compare it against the credit union’s ATM, debit or online card database and return a report and database file of matching member accounts. The list can then be used with CU*Answers’ CU*BASE tools, including List Generator, Query or Member Connect. CU*Answers offers credit unions online banking, member check processing and direct deposit processing services.