EasCorp Celebrates ‘e-tirement’ of Paper Checks

BURLINGTON, Mass. – Eastern Corporate FCU held an ‘e-tirement party’ to celebrate the retirement of paper checks and the introduction of a remote deposit program that allows consumers and small businesses to electronically scan checks and send them to their credit unions for deposit. Any member who is pre-qualified and has access to online banking and a home desktop scanner can use the new service. Digital FCU and Hanscom FCU are currently testing the system that brings image capture home, literally. This is of particular interest to credit unions that serve the military because USAA Bank, which also has its roots in serving the military, offers a similar product. The day before announcing this new product, EasCorp held an ‘e-tirement party’ during which it said goodbye to all of its paper check processing equipment. With 100% of its member credit unions adopting image capture technology, the corporate no longer processes any paper checks.