Schools Federal Credit Union and its financial technology software partner company, Bluepoint Solutions, have completed the migration of its check capture and processing operation in-house (view press release). Previously the service was carried out by an outsourcer. The conversion to in-house processing took four months and Schools Financial Credit Union now has direct transmission and receipt capabilities with the Federal Reserve. Other services the credit union can now carry out include daily in-clearings processing, lockbox remittance, Check 21 imaging, branch capture and transient-file aggregation.
The Schools Financial Credit Union is one of the largest in the US, serving around 111,000 members and possessing around USD1.3 billion in assets.