Credit union offers mobile check deposit
BUFFALO, NY (December 4, 2013) — Buffalo Metropolitan Federal Credit Union offers accountholders the ability to use their smartphone to deposit checks into their account. To make the deposit, the smartphone user takes a picture of the check and sends it electronically to the financial institution for deposit. Funds can be available as soon as the same business day.
“This new service provides extraordinary convenience to our members; it’s an easy and fast way to make deposits anytime, anywhere,” says Patricia M. Edinger, Buffalo Metropolitan Federal Credit Union CEO. “Since the release of Apple’s iPhone in 2007 we have seen significant changes in the way people conduct their finances. From their smartphone people are viewing balances, transferring money between accounts, and paying bills. Now they will be able to deposit checks. We have shifted how we approach the banking needs of our members,” continues Patricia M. Edinger.
A mid-2011 report by Javelin Strategy & Research* showed that one out of every four consumers, and half of mobile bank service users, would like to see their financial institutions offer mobile check deposit. *Source: Mobile Banking, Smartphone and Tablet Forecast 20112016: Mobile Banking Moves Mainstream to Midsized, Community Banks and Credit Unions
About Buffalo Metropolitan Federal Credit Union
BMFCU has been serving Buffalo since 1937 and opened it’s doors to all of Erie County in 2003. BMFCU has over $86 million in assets, making it the fourth largest Credit Union in Erie County. Anyone who lives, works, goes to school, volunteers, or worships in Erie County is eligible to open an account at BMFCU. More information about Buffalo Metropolitan Federal Credit Union can be found at BfloMetroCU.org