FARMERS BRANCH, Texas (8/13/08)--Credit unions need remote deposit to compete with banking competitors who have more convenient branch locations, according to a free white paper from Southwest Corporate FCU. “Remote Deposit for Small Businesses: Greater Convenience Should Not Mean Less Service” encourages credit unions to stagger their offerings of new member business services, including remote deposit. It also gives credit unions a procedure to follow (LoneStar Leaguer
Aug. 12). In the paper, Larry Middleman, president/CEO of CU Business Group, a corporate credit union-owned credit union service organization, states that remote deposit “removes geographic constraints and puts a whole new light on credit union capabilities.” The 10-page paper also answers the following questions:
* What opportunities does remote deposit afford the credit union seeking to attract and retain business members? * What businesses benefit most from remote deposit? * Can the credit union maintain personal relationships and cross-sell services to business members who manage their finances remotely? * Where will this technology lead? and * What should a credit union look for in a remote deposit service provider?