-UPost™, eCU Technologies online deposit service, gains five new credit union clients in its first quarter of 2007.-
Harrisburg, PA —March 19, 2007 -eCU Technologies, an automated financial service technology provider for credit unions, announces the signings of five more credit unions in the first quarter to its UPost online deposit service. eCU Technologies has a current total of 26 UPost clients. The most recent signings include:
UPost allows credit union members to make electronic deposits online, gaining immediate access to their funds while mailing in the actual deposit within a predetermined time.
American First, for instance, looks to increase convenient access to its members that do not live near a physical branch. According to Brian Thompson, the credit union’s vice president of IT, approximately 68 percent of its members live more than five miles from a branch location – so it had to do something to make banking at the Credit Union more convenient for these members.“Since the majority of our Members don’t have a physical branch nearby, we felt obligated to complement our branch network with a convenient, full functioning web branch,” Thompson says, adding that American First will go live with the online deposit service in May 2007. “More than 55 percent of our checking account members are already using our Web Branch each month.. So this increased functionality will be perceived as more convenient and much faster than driving down to the ATM or mailing the deposit.”
Thompson says this technology will benefit American First through increased functionality of its Web Branch and decreased ATM expenses. The online deposit service will benefit the credit union’s members through increased convenience for remote depositors and enable checking account users to quickly deposit funds to cover checks or make late payments on loans.
American First will target its new online deposit service toward certain member users. They include:
Thompson plans for a member adoption ratio of about 20 percent after three years.
“UPost continues to swell in popularity,” says Alan Brunner, COO for eCU Technologies. “Our most recent round of signings and our increasing client total proves that this product is here to stay and is becoming a necessity in credit unions around the nation – especially those with remote memberships. We are very thankful for each credit union that has adopted this proven, innovative technology, which has displayed its subsequent success.”
About eCU Technologies, LLC
eCU Technologies, located in Harrisburg, PA, is the Information Technology CUSO for Pennsylvania State Employees Credit Union ($2.4 billion, over 379,000 members). eCU Technologies was created by PSECU to provide credit unions with financial technology solutions, such as its suite of financial technology products that includes in-house or service bureau home banking solutions, UPost online deposit, online lending services, member history conversion, programming and consulting services, and more. (UPost ™ and UPost@Home® are registered trademarks of and used here with permission from PSECU.) For more information on eCU Technologies and its Keystone product suite, visit www.ecutechnologies.com.