Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Southwest Corporate debuts image-enabled ATM service
PLANO, Texas (7/10/09)--Southwest Corporate FCU is introducing ATM Capture, an image-enabled ATM software solution designed specifically for the credit union industry. Mazuma CU, a $396 million asset, Kansas City-based credit union, which beta tested ATM Capture, launched its first image-enabled ATM in May. Mazuma will first roll out the service with its nine image-enabled ATMs and replace its 11 older technology ATMs over time (LoneStar Leaguer July 9). Ginny Leritz, Mazuma’s director of member service support, said, “When the product is fully implemented, we expect to save $7,000 per year in ATM courier fees.” With ATM Capture, images of deposited checks are captured at the ATM, verified and transmitted in real-time directly to Southwest Corporate for processing. Decreased processing time frames enable credit unions to increase operational efficiencies, reduce costs and expedite funds availability, which reduces a credit union’s risk of loss from non-sufficient funds or fraud. “ATMs offer tremendous convenience for members, but they’re costly and take a lot of time to service from the credit union perspective,” said Brad Ganey, Southwest Corporate’s senior vice president of payment services. “With a traditional ATM, credit unions have to retrieve the deposit envelopes daily, and manually open and verify every transaction. “There are no envelopes with image-enabled ATMs,” he added. “Checks and currency are scanned as they are deposited. Credit unions can retrieve checks once a week or whenever they replenish the ATM with cash. Daily courier trips to the ATM, which represent a significant expense to credit unions, are no longer necessary.”


RSS





print
News Now LiveWire
Consumer spending is slumping #Market #Economy http://t.co/RI4HS68IuJ
14 hours ago
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
16 hours ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
18 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
19 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
20 hours ago