CU*Answers, the 100% credit union-owned core data processor, is working to create a Promise Deposit functionality in its online banking product It’s Me 247 that will allow members to make remote deposits with immediate credit for the members. This honor system for deposits will allow members to make a deposit to their accounts, and then promise to mail the check to the credit union via standard mail within a defined number of days. CU*Answers will also be developing a new Promise Deposit Tracking tool that will allow the credit union to watch for the promised deposits and flag them as they are received.

Members will request enrollment for this feature via online banking. The credit union then can approve the request or can revoke the enrollment at any time for members who may abuse the privilege.

This new Promise Deposit feature will set the stage for the eDOC Innovations CheckLogic Remote Capture functionality, and therefore include features that market CheckLogic for Check 21 processing heavily to members. This new functionality is slated to be released in the CU*Answers 13.0 Release which is scheduled for February 2013.