eCU Technologies, a provider of automated financial service technology solutions to credit unions, said that since Southland Credit Union installed its Upost@Home solution, some 20% of "premier members" have been using the technology to make deposits.
The $320-million, Downey, Calif.-based credit union has received more than $100,000 in deposits from those members. Southland's eDeposit enables members to enter their deposits online via home banking before providing the credit union with an actual check, while gaining immediate access to the funds. Members can then mail their checks to SCU within 10 days.
"Only an exclusive list of members, who have well-established relationships with Southland, have been invited to use the service. To date, the credit union has suffered no losses with eDeposit," the company said.
