The Endpoint Exchange Network, a Metavante company, today announced that Suncoast Schools Federal Credit Union, the seventh largest credit union in the nation, has joined the country's largest electronic check image exchange network with more than 4,000 member institutions enrolled across the country.
The Endpoint Exchange Network is open to all image-enabled check processing entities or financial institutions that have a relationship with an image enabled vendor. Suncoast's investment in its existing check imaging infrastructure positions them to clear and settle their payments through check image exchange as well as provide a smooth platform to convert from paper to digital-based check clearing using the Endpoint Exchange Network.
"Membership in the fast-growing Endpoint Exchange Network will generate several operational efficiencies for us," said Wanda Chambers, vice president, Document Services, Suncoast Schools Federal Credit Union. "Check image exchange capabilities and in particular, its seamless incorporation into our image-based check processing operations, will provide quantified cost savings with a shortened collection cycle, accelerated clearing, and reduced air and ground check transportation costs."
"As the largest credit union in Florida, Suncoast represents a significant addition to our fast-growing Endpoint Exchange Network," said Jeff Vetterick, general manager, Endpoint Exchange LLC. "Suncoast has more than 40 branch locations and over 375,000 members.
With that kind of daily check volume, Suncoast has taken a lead role among Florida's financial institutions for the use of digital image technology to exchange and settle check payments."