South Carolina Federal Credit Union Selects Bluepoint Solutions’ ImagePoint Capture, Estimates $500,000 Savings

Credit union adds teller, home, merchant and ATM capture options–

VISTA, Calif. and Charleston, S.C. March 16, 2010. South Carolina Federal Credit Union announced that it has selected Bluepoint Solutions’ ImagePointTM Capture and Hub modules to electronically capture and aggregate check images. Bluepoint Solutions is a Microsoft Gold Certified Partner and innovator in remote deposit capture (RDC), image-based item processing and enterprise content management software technology for financial institutions.

Headquartered in Charleston, S.C., South Carolina Federal has approximately $1.3 billion in assets. The credit union operates 19 branches plus a lending center and offers 75 ATMs to serve its growing member base. Currently the credit union serves more than 150,000 members. South Carolina Federal plans to implement teller capture, merchant/business member capture, home/member capture and ATM capture, as well as ImagePoint Hub for aggregation and forward presentment of items. The credit union also selected Bluepoint’s Receipt Manager with Transaction Manager for advanced research.

“The implementation of Bluepoint’s suite of products will allow South Carolina Federal Credit Union to continue delivering on our brand promise ‘providing convenience to members,” said Joe Grech, chief financial officer, South Carolina Federal. “Allowing members to deposit checks from their home or business offers another LifeSimplified tool for members to connect with us. Additionally, we estimate a $500,000 savings annually in operating expenses from the implementation of Bluepoint solutions. This in turn can be used to develop new products and services that give members more convenient access to the credit union and their money.”

Additionally, the credit union cited the ease of integration with its existing core platform and the ability to purchase all points of capture from one provider as key factors in the decision. South Carolina Federal will be able to capture checks in real-time and at the point of presentment (teller, home/business, ATM) improving operational efficiencies, cost savings, fraud prevention and the overall member experience. Receipt Manager integrates with the existing teller transaction flow, by storing the receipt data and check image together electronically, while all captured images, regardless of point of presentment, are aggregated in ImagePoint Hub. Storing every image electronically at the point of presentment makes them available to authorized users throughout the entire credit union, reducing the research time needed to answer member inquiries.

“Bluepoint remains committed to helping credit unions leverage proven best practices, like capturing documents at the point of presentment, to not only save money, time and resources, but also improve the overall member experience,” said Hal Tilbury, founder and CEO of Bluepoint Solutions. “Given the current climate in the financial industry, we believe more and more credit unions will follow South Carolina’s lead and replace existing legacy capture solutions with sophisticated remote deposit capture strategies that leverage capturing items at the initial point of presentment. We look forward to working with the team at South Carolina Federal Credit Union.”

About South Carolina Federal
South Carolina Federal Credit Union is headquartered in North Charleston and serves more than 150,000 members that own and belong to the not-for-profit financial cooperative, which has over $1.3 billion in assets. South Carolina Federal is a community-chartered credit union. Anyone who lives, works, worships or attends school in Dorchester, Berkeley, Charleston, Orangeburg, Clarendon, Calhoun or Georgetown counties, and most of the Columbia area, is eligible to join. South Carolina Federal has 19 branches, a lending center and more than 75 ATMs throughout Charleston, Columbia, Georgetown, Orangeburg, St.Matthews and Manning. In 2008, South Carolina Federal for the second consecutive year was voted one of the Best Places to Work in the state. More information about South Carolina Federal can be found at scfederal.org or on the SiMPLE CENTS blog at simplecentsblog.org.