Corporate Shakeout Opens Doors

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LOS ANGELES-CheckAlt Payment Solutions currently has more than 100 credit union clients, and it believes the shakeout in the corporate CU network will open the door for many more to follow.

Shai Stern, co-chairman of CheckAlt [formerly Skyline's DirectFED], said his concern is not how the corporate system is reconfigured, but ensuring that CUs are there are alternatives when it comes to check processing and remote deposit capture.

"As CEO of the company I am super-focused on the West," he said. "We are talking to CEOs of credit unions and credit union leagues. We have had several migrating to us, even from New Jersey. We are getting a lot of phone calls and other inquiries because we offer a service credit unions are looking for. There is a big opportunity for companies to step in and serve credit unions."

To get out the word, CheckAlt is offering demos, webinars and representatives are appearing at numerous financial institution conferences. Plus, Stern said, it is tapping its current clients as references. "Everything corporates were doing we can do," he declared.

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Corporate credit unions