CUDeposits™ Overview
CUDeposits™ allows a Credit Union member to deposit checks electronically, over the web, eliminating ATM surcharges while enhancing the level of convenience provided to members. Members can deposit any number of checks to the account, or accounts, of their choice, in one easy on-line transaction.
CUDeposits™ is especially ideal for remote members or business accounts with high deposit volumes, and the flexible software can be set up to also allow members instant access to their funds, depending on parameters set by the Credit Union.
How CUDeposits™ Works
Members access their accounts online and enter deposits into their accounts using information directly off of each check included in the deposit. CUDeposits™ then instantly funds the designated account(s) using pre-set parameters as established by the Credit Union. Members then mail the entered checks to the Credit Union. Once received, any remaining funds are deposited into the member's account(s).
If an error was made when entering the amount of the deposit, the application will automatically update the amounts deposited into each account when the checks are received at the Credit Union. Members are automatically notified via e-mail as to the status of their deposit during each step of the process.