LUSO Federal Credit Union Rolls Out Mobile Deposit Feature LUSO Federal Credit Union 2016-04-04 09:57:51 Important Information
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Ludlow, MA, April 1, 2016 – LUSO Federal Credit Union (www.LusoFederal.com), a member-owned not-for-profit financial cooperative, has recently released a new Mobile Deposit enhancement to its popular LUSO iMobile app. The Mobile Deposit feature allows Members with the app to deposit checks remotely using their mobile devices, regardless of time of day or physical location. The feature is available for free to any member using the app.

“This feature fills a very clear need,” explains Jennifer Calheno, CEO and President of LUSO Federal Credit Union. “Members do not always have the time to get to an ATM to deposit their checks, or they might set a check aside to deposit later but forget. By making depositing checks easy and convenient, Members can get access to their money that much faster.”

The Mobile Deposit feature operates along the same lines as similar features offered by other banking apps. iMobile users specify the amount to be deposited and the destination account, then they use their smartphone’s camera to take pictures of the front and back of the check.

“For the best results, checks should not be creased or torn and the image should be taken on a flat, contrasting surface in bright light,” Calheno notes. “Obviously, fingers should be kept away from the lens while taking the picture, too.”

Once deposited, it can take up to two business days for a check to clear. The hard copy of a check should be retained until the deposit can be confirmed and then securely destroyed to protect privacy.

“Technology has done a lot for banking and credit services, and using technology like Mobile Deposit improves our Members’ experience,” Calheno concludes.

LUSO Federal Credit Union is a member-owned, not-for-profit financial cooperative dedicated to providing its members with quality financial services and products. LUSO prides itself on serving the financial needs of those who live, work, worship, do business, or attend school throughout Hampden County, Massachusetts, regardless of economic status. More information about LUSO and its services can be found on the cooperative’s web site at www.LusoFederal.com.

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