Mid-Atlantic Corporate Federal Credit Union and Bluepoint Solutions today announced from the 2011 CUNA Governmental Affairs Conference, a joint initiative to assist credit unions with lower check volumes adopt Check 21-enabled branch capture, and to enable credit unions of all sizes to easily convert check processing operations to Mid-Atlantic Corporate.
Winner of the 2010 CUNA Tech Council "Best of Show" award, Bluepoint Solutions provides remote deposit capture, item processing and enterprise content management solutions to credit unions, corporate credit unions and CUSOs nationwide.
As an industry leader, Mid-Atlantic Corporate was the first corporate to develop and implement a plan following the changes to NCUA Regulation 704, which enabled the corporate to focus on serving credit unions by providing quality payment services, loans, investments and ALM programs to meet their specific needs. These services include ALM, ACH, share draft processing, electronic bill payment, remote image capture, and much more.
Through this joint initiative, credit unions that process less than 2,000 over-the-counter items per month will now have access to Bluepoint's ImagePoint Branch capture platform for an affordable monthly fee, without significant set-up costs. Once scanned, check images will be electronically transported to Mid-Atlantic Corporate's data center for additional processing and clearing.
Rodney May, Senior Vice President of Member Services at Mid-Atlantic Corporate Federal Credit Union, said, "Credit unions with lower check volumes will now have access to the same technology used by much larger institutions. Working with Bluepoint, we've been able to remove many of the barriers that have traditionally prevented smaller institutions from installing this type of sophisticated check processing technology. Mid-Atlantic Corporate has more than 200 credit unions that can immediately benefit from this offering."
Additionally, Mid-Atlantic Corporate and Bluepoint have initiated a conversion program to help credit unions of any size replace first-generation, legacy branch capture and check processing solutions with Bluepoint's modern ImagePoint Branch platform. Credit unions that take advantage of this offer will be given a license credit, and will be able to send electronic cash letters to Mid-Atlantic Corporate for processing and clearing.
"Mid-Atlantic Corporate remains committed to our fundamental purpose of helping credit unions thrive and compete in the financial services arena. Providing them with the best technology solutions is an important part of that commitment," said May. "Now more than ever, it is critical for credit unions to have a corporate partner they can rely on for financial stability, dependable service, and the best selection of technology solutions."
Mid-Atlantic Corporate currently serves more than 900 credit unions, CUSOs, leagues and chapters in 44 states. The corporate currently leverages Bluepoint's ImagePoint Teller, Branch and Merchant capture applications while running ImagePoint Hub in its data center.
May continued, "Mid-Atlantic Corporate is a conservatively managed corporate and as a result, we've remained strong and weathered the recent economic crisis. More than 650 credit unions have already committed capital, and we credit much of that to our sound fiscal policies, and the leading technology services and products we make available to our members. Bluepoint is a long-term partner of Mid-Atlantic Corporate and we look forward to many more years of working together."
Bluepoint Solutions CEO and Founder, Hal Tilbury, said "We have always been committed to the success of our corporate partners and we recognize the contributions of Mid-Atlantic Corporate to the credit union community. Bluepoint is pleased to expand our partnership with Mid-Atlantic Corporate to enable more credit unions the opportunity to benefit from the latest technology solutions."