REALTORS® Federal Credit Union Chooses “My Deposit” Home Deposit Solution from CO-OP Financial Services

Nation’s First Internet-based Credit Union Also Joins Nationwide System of CO-OP Network ATMs

RANCHO CUCAMONGA, Calif.--(allCUnews)--REALTORS® Federal Credit Union, the nation’s first Internet-based credit union, has selected both CO-OP My Deposit and CO-OP Network solutions from CO-OP Financial Services to give membership greater access and convenience to their accounts.

CO-OP My Deposit allows REALTORS® FCU members to deposit checks from the comfort and convenience of their home or office by using their own scanner to send check images to the credit union’s on-line banking Web site. My Deposit does not require adoption or installation of new hardware, making it an attractive solution for credit union members and small business owners.

“We needed an easily accessible, remote check deposit system for the more than 1.2 million members of the National Association of REALTORS®, who make up our service community,” said Jesse Boyer, executive vice president and chief information officer for REALTORS® FCU. “As a nationwide, branchless credit union, CO-OP My Deposit allows us to provide a secure on-line solution for our members, enabling us to more efficiently and effectively serve them. For REALTORS® FCU, the implementation process for My Deposit was very well defined and we experienced no hitches – I have already recommended it to two other credit unions. More importantly, for our customers, using My Deposit is very intuitive. It provides true self-service and our members have been very satisfied.”

REALTORS® FCU has also joined the nationwide CO-OP Network of 28,000 surcharge-free ATMs, 9,000 of which are deposit-taking. “By offering both the CO-OP Network of ATMs and My Deposit on-line home banking, our members have maximum flexibility to deposit their commission checks in the way that is most convenient for them,” said Boyer.

“REALTORS® FCU was originated as a world-class benefit for the members of the National Association of REALTORS®,” said Tom Glatt, president and chief executive officer of REALTORS® FCU. “As one of the world’s few totally-virtual full-service financial providers, we serve our members 24 hours a day, seven days a week, from anywhere in the world. We’re very pleased to partner with CO-OP Financial Services to offer our members a convenient remote deposit capture solution and access to thousands of surcharge-free CO-OP Network ATMs.”

“CO-OP Network and My Deposit illustrate how a combination of traditional and technically innovative solutions can maximize the financial service potential of a non-traditional credit union like the REALTORS® FCU,” said Stan Hollen, president and chief executive officer of CO-OP Financial Services. “We look forward to helping the nation’s first Internet-based credit union become a successful model for many more like them in the future.”

About CO-OP Financial Services

Established in 1981 and located in Rancho Cucamonga, Calif., CO-OP Financial Services (www.co-opfs.org [1]) is the nation’s largest credit union service organization with the largest credit union consumer brand, CO-OP Network. Wholly owned by its credit union shareholders, CO-OP provides volume discounts on payments products and services that include ATM network access, debit processing, ATM processing, shared branching, check imaging and mobile payments.

With nearly 3,000 credit union members, 28,000 surcharge-free ATMs (including 9,000 deposit-taking), 3,500 shared branch locations, 155 million-plus monthly transactions and 26 million cardholders, CO-OP Financial Services is the number No. 1 credit union EFT network and processor in the U.S. financial services industry. CO-OP Financial Services’ membership has access to 800,000 ATMs worldwide through links to NYCE, STAR, Cirrus, PULSE and Plus.

About REALTORS® Federal Credit Union – Serving Those Who Support the American Dream

Founded in 2008, REALTORS® Federal Credit Union (based in Rockville, Md.) is a not-for-profit financial cooperative serving the unique financial and cash-flow needs of America’s REALTORS®. REALTORS® FCU is the nation’s first completely virtual credit union serving one of the credit union industry’s largest fields of membership. REALTORS® FCU’s eligible members include members of America’s largest trade association, the National Association of Realtors® (NAR), that represents more than 1.2 million members involved in all aspects of the residential and commercial real estate industries. REALTORS® FCU is a proud NAR REALTOR Benefits® Program Partner and offers the benefit of credit union membership to the NAR, Member Boards, State Associations, Local Boards, Institutes, Societies and Councils, REALTORS®, REALTOR®-ASSOCIATES, credit union employees, volunteers and the immediate family or household members of eligible members. Additional business entities including member-owned business are also eligible for membership.

REALTORS® FCU currently offers a broad range of products and services to serve the unique personal financial needs of REALTORS®. Information about REALTORS® FCU is available at www.realtorsfcu.org [2].

Contacts

CO-OP Financial Services
Bill Prichard
Public Relations Manager
909-786-3450
Bill.Prichard@co-opfs.org [3]