CO-OP Financial Unveils Envelope-Free ATMs

SAN DIEGO – USA FCU said it is the first credit union in San Diego to offer its members envelope-free ATMs with check-imaging technology and the first to offer it through the credit union-owned CO-OP Financial Services. The ATMs count and validate cash amounts, visually display the deposits, then provide receipts showing the amount of the deposit or actual images of the deposited checks. The member can even deposit a stack of cash with the bills facing in any direction. The ATMs process the check images directly through the Federal Reserve system, allowing for faster clearing and funds availability. The ATMs also help reduce fraud because almost half of fraud committed at the ATM is done using empty envelopes. The CO-OP is the first and only ATM processor to offer credit unions an integrated system to capture, proof, and clear digital check images from ATMs. Image-enabled ATMs offered by Diebold and NCR.