PLANO, Texas-Catalyst Corporate FCU reported it has now helped 385 CUs to convert their check processing and an additional 212 to transition their remote deposit services to the corporate that were previously served by Western Bridge Corporate FCU, whose operations Catalyst Corporate is absorbing.
"We would have liked to have had 18 months to pull off this transition, but instead, we had just four," said COO Brad Ganey.
As a result of the service transition, Catalyst Corporate reported its daily check processing volume has nearly doubled from approximately 420,000 items per day to an approximate average of more than 800,000 items per day during May-and included one day when Catalyst Corporate processed more than one-million checks.
In addition, from May 1 and May 11, 81 Western Bridge-member credit unions, holding a total of almost 4,000 securities, were transitioned onto Catalyst's new safekeeping system.
