Corporate One FCU has rolled out Automated Capture & Exchange (ACE), an automated deposit solution that will allow credit unions to leverage Check 21 by imaging, archiving and collecting deposited items electronically. Three credit unions have now signed on for the solution- Credit Union of Ohio, Columbus; KEMBA Financial Credit Union, Columbus; and KEMBA Credit Union, Cincinnati.
ACE is being rolled out in two phases. The first phase, currently underway, allows credit unions to replace current efforts to microfilm or copy deposited items by utilizing Check 21-ready software and hardware provided by Corporate One. Deposited items-including checks, savings bonds, loan coupons and other items-will be archived at Corporate One for seven years and will be available for 365 days via MemberView, the corporate's Web-based account management system. The second phase, slated to begin as the Federal Reserve, electronic clearing houses, and regional banks enhance their image clearing capabilities, will allow deposited items to be cleared and settled through the electronic exchange of images.
Partner members of Corporate One who are current users of the corporate's depository services solution, ADDS, will be first in line to begin using ACE. Pricing for ACE has yet to be announced but is expected to be released within the next few weeks.
For info: www.corporateone.com.
