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Meadows CU is Latest CU to Partner with CashEdge

ARLINGTON HEIGHTS, Ill. -Meadows Credit Union is the latest to partner with CashEdge, a facilitator of online money movement between institutions. Through the relationship new members can open an account with Meadows instantly via the CU's Web site. Members will also be able to transfer funds between any two accounts...

By Staff Writer | Updated on June 03, 2003

ARLINGTON HEIGHTS, Ill. -Meadows Credit Union is the latest to partner with CashEdge, a facilitator of online money movement between institutions. Through the relationship new members can open an account with Meadows instantly via the CU’s Web site. Members will also be able to transfer funds between any two accounts at over 23,000 financial institutions, and to send money electronically to anyone. “Integrating CashEdge into our online offering will allow people to both open accounts, and fund them immediately online from another financial institution. We expect this to have a big impact on the ease with which we can add new members,” said Meadows Credit Union Director of Marketing John Antos. CashEdge claims that its own research shows institutions that offer the service will see more dollars flow in than out. “These technologies are particularly valuable for credit unions. Having moved over $125 million for our clients, we have witnessed that in the case of credit unions, for every $1.00 their members transfer out, $3.00 flow in,” said Dilip Venkatachari, President, CashEdge.

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