$1.5 Billion JSC Federal Credit Union Moves Item Processing In-House, Selects Bluepoint Solutions’ ImagePoint
–New case study projects savings of $10,000 per month, improved member service–
Vista, Calif. Dec. 15, 2010 Bluepoint Solutions, 2010 CUNA Tech Council Best of Show winner, and provider of remote deposit capture, image-based item processing and enterprise content management solutions for financial institutions, announced the release of a new client case study. The study offers an in-depth look at JSC Federal Credit Union’s implementation of Bluepoint Solutions’ ImagePoint item processing suite and Receipt Manager solution, moving the credit union’s item processing from a third party provider to an in-house environment. JSC Federal Credit Union, headquartered in Houston, Tex., operates 16 branches throughout greater Houston, and has more than 116,000 members and $1.5 billion in assets.
“JSC has had an excellent relationship with our corporate credit union for over 10 years, but the ongoing crisis in the corporate credit union system left us with little choice but to look for alternatives to the item processing services it provided,” said Paul Maslonka, chief operating officer at JSC Federal Credit Union. “We evaluated several alternatives, and determined bringing the process in-house was the best strategy for our institution and our members.”
The credit union cited streamlined workflow, ease of use and the projected savings as the primary reasons for selecting Bluepoint’s ImagePoint item processing platform. Based on the credit union’s current volume of 14,000 checks per day, Bluepoint estimated total cost savings of more than $10,000 per month, or $600,000 over 60 months. “We took the savings gained from moving our item processing in-house and invested it in ImagePoint Teller and Receipt Manager for all 16 of our branches including the cost of adding scanners at every teller workstation,” said Maslonka.
“The initial setup was painless and our daily work has changed very little. Now we simply download and upload files directly with the Fed,” Maslonka continued. “JSC has fully implemented ImagePoint Hub and ImagePoint Foundation for cash letter creation, forward presentment and in-clearing processing, and is currently deploying ImagePoint Teller plus Receipt Managerfor front teller line check capture and enhanced transaction balancing and research.”
Bluepoint Founder and CEO, Hal Tilbury, said, “We have examined hundreds of credit unions’ check volumes and item processing costs. By taking control of its item processing with ImagePoint, JSC has made an investment in a solution that will afford it long-term cost savings and will remain viable until the last paper check comes across the teller line.”