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New CUNA Statement Stuffer Explains the Disappearance of Float

MADISON, Wis. - Some consumers may be in for a rude awakening in the coming years if they like to rely on good old fashion check float. Float, which has already been trimmed a lot in the last decade, is expected to virtually disappear when check image exchange comes into...

By Staff Writer | Updated on July 13, 2004

MADISON, Wis. – Some consumers may be in for a rude awakening in the coming years if they like to rely on good old fashion check float. Float, which has already been trimmed a lot in the last decade, is expected to virtually disappear when check image exchange comes into bloom in the years following the implementation of Check 21. The law doesn’t mandate image exchange, but encourages it and corporates and league service corps. are gearing up to get ready for image exchange. CUNA’s Center for Professional Development has released a new statement stuffer, “Check 21 Speeds Checking, Sinks Your Float” credit unions can use to explain to consumers the effect the law will have on float so they can adjust their checking habits.

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