SAVANNAH, Ga. – About five years ago, Wright-Patt Credit Union Treasury Services Manager Leah Greene faced the daunting and important task of growing business deposits to back her credit union's loans. The secret, as she explained to attendees in a breakout session at the 2018 CUBG National Business Conference Tuesday, was implementing a successful remote deposit capture program as part of an overall strategy to develop full banking relationships with business members and increase efficiencies at the credit union.
The journey began with the creation of a five-year member business services strategy plan, which included shifting to a new loan origination system with a ton of reporting capabilities, making policy and practice revisions, and raising more awareness about the credit union's business service offerings to members who visit a branch. It now has about $300 million in total deposits, has seen a jump in new business accounts (primarily operating and money market) as well as a reduction in the number of in-branch transactions thanks to the RDC program, and holds 39% of its deposits from business members. About 100 business members use RDC.
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