Largest Credit Union In Florida Participates In Nation's Leading Image Exchange Network NEW YORK, Sept. 4
NEW YORK, Sept. 4 /PRNewswire/ -- SVPCO, the paper and electronic check
exchange business of The Clearing House Payments Company L.L.C., today
announced that Suncoast Schools Federal Credit Union (Suncoast Schools FCU) is
now connected to the SVPCO Image Payments Network.
Suncoast Schools FCU is connecting to the network through the SVPCO
Gateway DTA, which enables institutions to send and receive bulk files of
images on a peer-to-peer basis through the network. SVPCO's File Transfer
Protocol (FTP) option, a secure, low-cost, Internet based connection, will
provide Suncoast Schools FCU with an effective way to link to the SVPCO Image
Payments Network and exchange images.
"We look forward to working with SVPCO in our effort to process our
members' items in the most cost effective means possible," said Wanda
Chambers, Vice President of Document Services of Suncoast Schools FCU. "It is
by working with other financial institutions in these types of relationships
where we find ways to streamline our processes, speed up presentments and
realize the greatest efficiencies."
The Image Payments Network offers financial institutions a variety of
connectivity options. The SVPCO Distributed Traffic Agent (DTA) enables
financial institutions with larger volumes to transmit check images directly
to each other. The SVPCO Gateway DTA is a cost-effective solution designed
for institutions with smaller volumes or who are interested in gradually
ramping up their image processing capabilities. The Image Payments Network
can also be accessed through an institution's correspondent banking
relationship or through a third-party processor.
"For Suncoast Schools FCU, the connection to the SVPCO Image Payments
Network is an effective way to migrate from paper to electronic payments,"
said Susan Long, Senior Vice President of The Clearing House, responsible for
SVPCO. "Our team stands ready to help financial institutions create a
business case for image exchange, particularly in the face of rising costs of
paper check processing."
In addition to Suncoast Schools FCU, participants in the SVPCO Image
Payments Network are Astoria Federal Savings, Bank of America, Bank of
Stockton, The Bank of New York, BB&T, Citibank, Comerica Bank, Fifth Third
Bank, First Citizens Bank, HSBC Bank, Huntington National Bank, JPMorgan Chase
Bank, KeyBank, M&I Bank, M&T Bank, Members United Corporate Federal Credit
Union, National City Bank, PNC Bank, RBS Citizens Bank, Regions Bank, Sterling
Federal Bank, Sterling National Bank, Union Bank of California, U.S. Bank,
Wachovia Bank, and Wells Fargo Bank. Through its connections with the Federal
Reserve and Endpoint Exchange, the Image Payments Network can reach more than
10,000 endpoints and help financial institutions of all sizes take advantage
of image exchange.
For more information about the SVPCO Image Payments Network, contact Susan
Goold, Vice President, Products and Services, SVPCO, 212.613.9861,
susan.goold@svpco.com.
About Suncoast Schools Federal Credit Union
Suncoast Schools FCU, chartered in 1934 as Hillsborough County Teachers
Credit Union, serves more than 463,749 members and operates 50 full-service
branches in the following Florida counties: Charlotte, Citrus, Collier,
DeSoto, Glades, Hardee, Hendry, Hernando, Hillsborough, Lee, Levy, Manatee,
Pasco, Pinellas and Sumter. With assets of more than $6 billion, Suncoast
Schools FCU is the largest credit union in the state of Florida and the 7th
largest in the United States. For more information visit: www.suncoastfcu.org.
About The Clearing House Payments Company
Formed by banks more than 150 years ago, The Clearing House operates
payment systems infrastructure and facilitates forums for the U.S. banking
industry. The Clearing House clears and settles more than 40 million check
and electronic payments with a value of $2.4 trillion each day for financial
institutions in the U.S. and around the world. The Clearing House's strategic
forum brings together financial institutions to discuss and take action on
payments industry issues, while its bank association addresses legal and
regulatory matters of critical importance to its members. For more
information, visit www.theclearinghouse.org.
SOURCE The Clearing House
