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Southwest Corporate members flock to online services

DALLAS - Southwest Corporate FCU has seen a significant increase in the number of member CUs using its electronic cash management solution,TranZact. "I think it's growing fast because natural person credit unions find their members embracing technology more," said Southwest Corporate's Jody Beck, senior vice president of operations. The number...

By Staff Writer | Updated on October 23, 2001

DALLAS – Southwest Corporate FCU has seen a significant increase in the number of member CUs using its electronic cash management solution,TranZact. “I think it’s growing fast because natural person credit unions find their members embracing technology more,” said Southwest Corporate’s Jody Beck, senior vice president of operations. The number of member CUs using the system has jumped from 400 last year to about 550 this year. “Even though we thought some of the smaller ones might not be interested, they are getting interested,” said Beck. In September 136,000 transactions were done on the system. The corporate charges member CUs $50 a month to use TranZact. Beck said this pricing saves money for both the corporate and member credit unions. She said TranZact has cut down on the number of phone calls. “We do love to talk to our members, but we hope we can free up time for our reps to learn how to better serve them,” said Beck. TranZact functions include viewing account balances and rates; sending wires; reconciling daily statements; downloading ATM reports; returning ACH items; tracking automated settlements; tracking deposit availability; transferring funds among accounts and others. [email protected]

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