Why are credit unions, in general, seemingly better off than some banks with regard to implementing Check 21?
A. Credit unions have been truncating checks for nearly three decades since we were first allowing to offer checking accounts in the mid – 1970s. Banks, in general, do not truncate checks. They are laden with huge numbers of checks to return with procedures and machinery that may not be as readily adaptable to Check 21s image exchange availability as credit unions.
Related Questions
- If bad loans have been a major cause of problems at banks and credit unions, how are problem loans affecting Bank of Utah?
- How do credit unions and banks in the MoneyAisle network handle joint applications or no-credit applications?
- Why are credit unions, in general, seemingly better off than some banks with regard to implementing Check 21?
