Corporate One FCU sets up cheque image clearing house in alliance Bluepoint

Source: Bluepoint Solutions

Bluepoint Solutions, provider of Check 21, remote deposit capture, item processing and enterprise content management solutions, and Corporate One Federal Credit Union, today announced a partnership designed to assist natural person credit unions currently using IMAGEin through their current corporate credit union to establish a relationship with Corporate One FCU for check processing and clearing services without any disruption to operations or product support.

Bluepoint Solutions, Corporate One Federal Credit Union Partner to Deliver Item Processing and Check Capture Solution
--Partnership allows credit unions to benefit from continued use of IMAGEin and the stability of strongest corporate in nation--

Vista, Calif., — June 15, 2010 — Bluepoint developed the software that powers the IMAGEin branch capture solution specifically for corporate credit unions to deploy to their members.

"For credit unions using IMAGEin that are exploring alternative corporate relationships, this partnership allows them to protect their financial investment in IMAGEin, and prevent disruption of service to their operations and, most importantly, their members," said Hal Tilbury, CEO of Bluepoint Solutions.

Credit unions that previously purchased licenses for IMAGEin through a corporate will be able to transfer existing licenses with no additional cost by switching product support directly to Bluepoint. Checks images will then be sent to Corporate One for processing and clearing. Credit unions will not incur additional licensing fees or software costs, other than support. Day-to-day operations of the credit unions will be unaffected, ensuring a smooth transition that is completely invisible to members and requires no additional costs or staff training.

As one of the few corporates not to lose any of its members' capital investment during the recent economic crisis, Corporate One remains in a strong financial position with an existing business model that is both effective and efficient. Additionally, Corporate One already exceeds all capital ratios at the "well capitalized" levels, as outlined in the recently updated regulations governing corporate credit unions, as well as meeting all NEV ratios in both base- and stressed-case scenarios.

"We are extremely pleased to announce this partnership with Bluepoint Solutions," said Robert Coyan, senior vice president of marketing and operations at Corporate One. "This new relationship builds on our philosophy of providing best-in-class services to credit unions, while making it as convenient and affordable as possible. We're proud to offer credit unions a seamless alternative to looking outside of the credit union network for the processing and settlement of their items," he added.

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