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Credit Unions Converting to Check 21

The charge for the armored car courier that was making nightly draft pickups from First Choice America Community Federal Credit Union’s eight branches was continuing to rise. Years ago dozens of banks and credit unions on the courier’s route shared the cost of the run. Then, one by one, the financial institutions dropped out of the loop as they converted to Check 21-enabled services. By the time there was only one other institution with which to split the courier’s costly bill, First Choice America’s portion had reached a staggering $2,000 per month. Before too long, that figure would be doubling. The last bank to share the courier charge with First Choice America was on the eve of its own conversion to check imaging,
Proposed changes: First Choice America Chief Technical Officer Grace Blake knew the time had come to make the transition to Check 21. F&E CheckPros recommended Check 21 software from partner AQ2 Technologies. Using their InstaPosit, Fed Forward®, Fed Receive®, and Fed Return®modules for each of community credit union’s eight branch locations brought the efficiencies they were looking for. This solution would enable tellers to electronically scan, repair and proof the checks, then electronically forward and receive checks direct with the Federal Reserve.
Product evaluation: Exercising due diligence, Blake, along with a team of three others, meticulously researched the solutions from 10 vendors. Over the course of 12 months, they evaluated the features and functionality of each. Would the solution perform effectively and in the easiest way possible in the teller line? Up-front costs and ongoing maintenance were also major considerations.
Of the 10 vendors, the team finally selected F&E Check Pros as the best value to satisfy their needs. They appreciated the flexibility both had to offer. F&E CheckPros was able to provide a customized system to fit the credit union’s specific operating needs. In addition, F&E Check Pros was flexible in working with the credit union to minimize installation and training costs.
“In addition to its customized functionality, we found the F&E Check Pros system to be the most reasonably priced, with the best licensing/software maintenance program. And, we liked the fact that we didn’t have to have separate servers for this product,” said Blake. “In our case we could just use an existing server.”
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News Archive

August 2008 F&E Check Pros Adds Two More County Treasurers’ Offices to Check 21 Imaging Services
June 2008 Improving Collection, Receivables & Deposit Processes
April 2008 F & E Adds Three County Treasurers’ Offices to Check 21 Imaging
Oct 2007 F & E Check Pros Receives Award

 

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County Treasurers Benefit from Webinar

County treasurers using digital remittance processing software recently participated in an F&E Check Pros webinar to share best practices. Without having to leave their offices, participants gathered valuable insights into enhancements with the newest version as well as short-cuts to help make their jobs easier. The counties shared ideas with each other as well. Based on the survey responses, everyone thought it was beneficial so more webinars are being planned. Congratulations to Greene County for getting the most votes for best suggestion!
If you would like a demo of the imaging software to see how it might help your operation, please contact the Pros at (330) 468-2004.