TLC Federal Credit Union has begun converting checks into images at its branches and transmitting them to a central processing site, using software from Integrated Media Management.
The Tillamook, Ore., credit union is using IMM's imaging software in its five branches to convert 85% of the checks the credit union's members deposit, the Linden, N.J., software vendor said on Monday.
Eric Lessor, the credit union's MIS director, said the software has produced cost savings and efficiencies. "It's a lot easier to find checks now, and rescan them if necessary, with everything sent electronically to a central location. We don't have to use couriers anymore," he said in an IMM press release.
TLC is converting about 1,500 checks per day and gets about five rejected per week. The $86 million-asset credit union has more than 15,000 members.
