Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CO-OP My Deposit expands to CUs business
RANCHO CUCAMONGA, Calif. (11/16/10)--With the latest enhancement of CO-OP Financial Services’ CO-OP My Deposit product, credit unions can offer their small-business members the ability to electronically submit checks for deposit. “This expansion of our check imaging suite allows credit unions to target a lucrative and underserved segment in today’s economy--small business owners,” said Stan Hollen, president/CEO of CO-OP Financial Services. “The upgraded CO-OP My Deposit is a perfect fit for small- to medium-sized businesses, as well as schools, religious organizations and nonprofit associations, that need to deposit checks on a regular basis. CO-OP My Deposit was introduced in 2008 for credit union members to scan and deposit checks from their homes. The server-based application now eliminates the need for small-business owners with high check volumes to travel to the branch as well. Set-up is straightforward--only a high-speed scanner and a personal computer with Internet access are needed to use CO-OP My Deposit. The high-speed scanner can be ordered from the private, online CO-OP Scanner Store. Scanners range from those that can process dozens of checks per minute to a single-feed scanner that still reads both sides of the check in a single pass. The advantages of CO-OP My Deposit include reduced float time, online revisions and adjustments, e-mail receipts, online history viewing, and automatic data capture and balance before checks are submitted to the credit union, said CO-OP. Robust risk and fraud assessment are performed immediately, and all identifying information processed through the imaging product is stored so duplicate checks can’t be deposited separately.


RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
8 29 ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
8 29 ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
8 29 ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
8 29 ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
8 29 ago