Corporate One FCU has announced the pricing for the first phase of its Automated Capture and Exchange (ACE) product, a fully automated deposit solution that it said will allow credit unions to take advantage of Check 21 by imaging, archiving and collecting deposited items electronically. Phase I of ACE allows credit unions to replace current efforts to microfilm or copy deposited items by utilizing Check 21-ready software and hardware. Deposited items- including checks, savings bonds, loan coupons and other items-will be archived for seven years and will be available for viewing in MemberView(r), COFCU's web-based account management system. Corporate One said that credit unions that sign up for Phase I will be provided all the necessary hardware and software to perform the image function at their branch location. Each qualifying branch at each credit union will receive a free PC, a check scanner, and Alogent Corporation's Sierra Expedite extensible deposit automation software. Additionally, 24/7 support will be provided on the equipment for three years.
This equates to a value in excess of $5,000 worth of equipment, software and services per branch, Corporate One said. Credit unions will be charged a $35 monthly fee to cover the cost of servicing the equipment and a small per item cost.
