CUDeposits™ from CUBUS Solutions eliminates need for many branch visits
CREDIT UNION SOFTWARE BRINGS NEW MEANING TO "THE CHECK IS IN THE MAIL"
LIVERMORE, Calif., Jan 15, 2008
CUBUS Solutions, Inc., a leading provider of business solutions that help credit unions deliver superior member services, announced the successful deployment of CUDeposits™, an application that allows credit unions to manage deposits more cost-effectively by providing members the ability to deposit checks into their accounts over the Web. The solution has been implemented by several Credit Unions across the country.
Among the first to use CUDeposits™ is Los Angeles Firemen's Credit Union (LAFCU), a trusted provider of premier financial services to professional firefighters in California. LAFCU partnered with CUBUS to develop the application, and was the first credit union to offer CUDeposits™ to its members.
"Our primary purpose was to let members deposit checks from anyplace without having to drive to a credit union branch or ATM location. We also did not want them to have to wait several days for the funds to be available," said Michael Mastro, President and CEO of Los Angeles Firemen's Credit Union. "We could not find a software program on the market that had all the functionality we wanted, so we chose to work with CUBUS Solutions to develop the software because our previous experience with them had been extremely positive. This approach also allowed us to more easily integrate the check deposit software into our other existing software applications. During the software's development phase, CUBUS provided invaluable feedback and suggested new features that made the Web check deposits software more sophisticated and easy to use for members." In the first 3 months after deploying CUDeposits™, LAFCU processed over 1500 transactions worth in excess of $1.5 million using the program.
Tena Rohrback, Executive Vice President of Diamond Credit Union in Pottstown, PA concurs. "We are excited to be implementing CUDeposits™ because it allows us to expand our account access and better serve the needs of our members. With few branches and ATMs, our members had limited access to make deposits to their accounts. Implementation of CUDeposits™ allows members to now make deposits wherever there is Internet access and a mailbox."
CUDeposits™ lets credit union members deposit checks over the Web. Members access their credit union accounts online and enter check information though an easy-to-use interface. Deposits may include as many checks into as many different accounts as desired, all in a single session. The funds are deposited into the member's accounts immediately. The member is then prompted to mail the checks to the credit union. The CUDeposits™ rules engine allows the credit union to manage these deposits based on both the member's and the check-writer's profile. CUDeposits™ also includes a sophisticated call center interface that provides members the added convenience to deposit checks by calling in to their credit union's service center and providing the check's information to a member services representative.
CUDeposits™ currently interfaces with Harland Financial Solutions' ULTRADATA System using its OpenPath(TM) solution. CUBUS Solutions is looking to expand the capability to interface with other systems in the near future.
"CUDeposits™ exemplifies our commitment to partner with our customers to provide software applications that allow them to make a difference to their members," said John-Ashley Paul, President & CEO of CUBUS Solutions. "In addition to the convenience of depositing checks from their homes or places of work, CUDeposits™ will help credit unions such as Los Angeles Firemen's Credit Union and Diamond Credit Union extend their services to farther locations - giving members instant access to funds while reducing potential ATM surcharges."
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About CUBUS Solutions
CUBUS Solutions, Inc. is a provider of business solutions for credit unions that enhance convenience services for members, generate cost-savings for the credit union, and provide new revenue opportunities. CUBUS Solutions currently markets CUNotify™ CUPoints™ and CUDeposits™ to credit unions. For more information visit us at http://www.cubussolutions.com or call 925-606-8708.
The Go Green Initiative brings together students and community through shared environmental goals. CUBUS Solutions shares these ideals and believes an increased commitment to civic responsibility builds a stronger society through deepened employee, consumer, and shareholder relationships.