The Illinois league's Service Corporation (LSC) is offering a new Internet-based service that allows members to access checks up to 90 days old through a link on their CU's home banking page.
If all goes well with new DVD technology, now in the testing stages at LSC, members will be able to access check images up to a year old. George Fiegle, LSC executive VP and COO, said he expects the latest enhancement to be available in the second quarter of 2002.
"We've invested significant time and money to bring the most rapid response and capacity possible to the program," he said. "We believe adding this speed and capacity will give credit unions a better checking account to offer members. Improving our products to help credit unions is a constant process."
As it stands, when members retrieve the history of their account, check numbers up to 90 days old are shown along with the dates they cleared and when they were posted to the account. A simple click on any one of the numbers now in hypertext will display both the front and back of the selected check.
LSC has also implemented state-of-the-art check clearing software-Dynamic REject Auto-correction Model (DREAM)-that finds and reads the MICR line of items that are processed in document carriers with strips on the bottom, upside down or backwards. This system has reduced by 60% the time it would take to manually process the items.
