The Check's in the Mail for Pennsylvania SECU Members

HARRISBURG, Pa. – Pennsylvania State Employees CU, one of the most innovative credit unions, has introduced remote deposit that will allow its members to deposit checks over their personal computers. The program, called UPost@Home, allows members to immediately post the check’s funds to their accounts and has them mail the paper to the credit union for verification. The system has proved reliable so far, with the credit union giant reporting almost $600 million in deposits over UPost@Home and less than $30,000 in losses. The credit union ensures against lost checks by calling members if they haven’t received the mail within eight days. The system not only provided added convenience and float for PSECU’s 340,000 members, but saves significant manpower at the $2.5 billion credit union–which operates just three branches. PSECU, which developed the program, is selling it to other credit unions through its eCU Technologies CUSO.