CU*CHECK

Check imaging is standard and check copies are always free-whether through CU*CheckViewer or via a call to an Item Processing service representative. For CU*BASE clients, free check copies are also available to members via It’s Me 247 PC Home Banking.

Direct Deposit services include all encoding, endorsing, microfilming and balancing and feature LaSalle Bank, Checkmate or Federal Reserve Bank deposit endpoints for maximum funds availability.

Image Check Processing

The high volume of items associated with member checking accounts can be handled efficiently and cost-effectively using the CU*Answers Check Processing program.

As one of the first processors in the entire Midwest to do so, CU*Answers implemented Check Processing for the credit union industry in 1982.

It was a move which was enthusiastically received by the credit union industry, and today, CU*Answers processes checks for over 65 credit unions located throughout Michigan.

The CU*Answers Check Processing program offers many outstanding features for your credit union:

• Return check items are received by the Federal Reserve within 36 hours, thus meeting the 48-hour processing requirement set by the federal government.
• Your own credit union routing number is printed on your members' personal checks.
• The communication interface to your present Account Processing system will be fully tested and put in place by our local Grand Rapids support team, making a conversion to CU*Answers a very simple process.
• Accurate and thorough check processing reports are provided, including monthly microfiche records for any member where check activity occurred, showing all monthly check activity, trace numbers, serial numbers of checks, amounts, and more.
• CU*Answers processing rates and unique pricing strategies are extremely competitive and provide greater value for your credit union.
• Unsurpassed support services are provided. Questions or concerns which arise are immediately addressed by our Client Services team, available to you via telephone 24 hours a day.
• Because of CU*Answers's structure and smaller size, we are able to address ourselves more directly to your credit union's needs. With this in mind, imaged copies are provided free, and can be received by your credit union immediately. If you wish, we can even FAX copies to you as needed for those critical times!
• Should your credit union also be on-line to the CU*Answers CU*BASE on-line software, the CU*Answers Check Processing system is fully integrated with the on-line system. This means your credit union can easily handle return checks so as to automatically update member statements showing any applicable return fees, overdraft fees, etc.
• The CU*Answers Check Processing program represents an outstanding means for generating revenue-adding to your bottom line without the need to purchase any hardware or software!

Direct Deposit Processing

The CU*Answers Direct Deposit program can substantially reduce or even eliminate the necessity of maintaining a relationship with your local bank.

With Direct Deposit, non on-us checks which are deposited daily to your Credit Union can be picked up by a courier service and delivered directly to a CU*Answers Item Processing Center, in either Grand Rapids or Saginaw.

Once received at the CU*Answers Item Processing Center, all necessary processing-including encoding, endorsing, microfilming, and creation and balancing of the outgoing cash letter-is handled by our fully-trained Item Processing staff.

Once the items are completely processed, the checks may then be deposited to a correspondent bank offering to provide maximum availability of funds for your credit union, or directly to the Federal Reserve. Depending on the service chosen, CU*Answers direct deposit clients are receiving between 90% and 100% credit available the next day for investment on deposited items!

The CU*Answers Direct Deposit program is simple to set up, and enables your credit union to take advantage of a wonderful revenue opportunity. As a part of Direct Deposit, CU*Answers may also assist you in your daily cash needs via relationships CU*Answers has established with couriers/ financial institutions.