$1.3 Billion Schools Financial Credit Union Partners with Bluepoint Solutions to Move Its Entire Item-Processing Operation In-house

Credit union completes conversion from third party, outsourced environment to in-house operation in less than four months–

Sacramento, Calif. – June 12, 2012

Schools Financial Credit Union, together with Bluepoint Solutions, today announced the credit union’s successful conversion to an in-house, end-to-end check capture and processing operation. The credit union had previously used an outsourcer for its check processing. The conversion took less than four months and, a matter of days, employees were successfully creating cashletters in-house for direct processing with Federal Reserve Financial Services. Bluepoint Solutions provides remote deposit capture, item processing and enterprise content management solutions to more than 1,800 financial institutions nationwide.

Headquartered in Sacramento, Calif., Schools Financial Credit Union serves more than 111,000 members, and has approximately $1.3 billion in assets, ranking as one of the largest credit unions in the nation. Schools Financial Credit Union now has direct transmission and receipt capabilities with the Federal Reserve. Additionally, the credit union can perform daily in-clearings processing, lockbox remittance, Check 21 imaging, branch capture and transient-file aggregation.

“With the impending phase-out and dismantlement of WesCorp, it was imperative that we find a new, reliable partner for our item processing,” said Jim Jordan, President and CEO of Schools Financial Credit Union. “We decided Bluepoint was unique in that they provided the entire suite of solutions needed to support our current transaction volume, as well as allow for future growth. Conversions of this magnitude can be daunting—especially for credit unions of our size—but from the time we selected Bluepoint, it took less than four months to get fully operational. That is a great achievement both for our team, and Bluepoint’s.”

“We worked closely with Schools Financial to make sure they were able to meet their deadline for converting their item processing,” said Andrew Tilbury, Chief Marketing Officer for Bluepoint Solutions. “Schools Financial is a well-known and respected credit union with an excellent reputation for delivering exemplary member experience and the best-possible technology solutions.  We are proud to have been selected as their technology partner and look forward to expanding our relationship in the future.”

About Schools Financial Credit Union

Founded in 1933, Schools Financial Credit Union serves more than 111,000 members and has over $1.3 billion in assets. Schools has 11 branches and offers Banking for EveryoneSM in Sacramento and its nine surrounding counties.