Skyline's DirectFED Payment Solutions Signs Two New Credit Unions to Use Remote Deposit Capture System

LOS ANGELES, July 12 /PRNewswire/ -- Skyline's DirectFED Payment Solutions, the first business-centric processor performing Remote Deposit Capture (RDC), announced today that Right Choice Credit Union servicing the Houston, Texas area and University of Pennsylvania Students Federal Credit Union have signed on to use the company's RDC system. Having processed more than 8.5 million checks totaling more than $7.1 billion in transactions, Skyline's DirectFED is the fastest growing check-processing company servicing credit unions.

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Skyline's DirectFED's RDC software will allow Right Choice and University of Pennsylvania Students Federal Credit Union to compete with larger banks by offering the ability to become image-enabled without any capital investment, protect current customers and obtain new clients without needing to build new branches.

"Signing on with Skyline's DirectFED was optimal in the fact that they have the ability to clear funds the very next day and the ability to receive returns back within 48 hours," stated Mike McWethy, vice president of retail sales and branch operations of Right Choice Credit Union. "Skyline's DirectFED eliminates costs and provides better access to our deposits. Their staff is very helpful, and they provide a quick response regarding technical support as well."

By utilizing Skyline's DirectFED, clients not only receive funds in less than 12 hours but also, by extension, are able to improve the efficiency and profitability of their operations. In addition, Skyline's DirectFED's simple software provides the capability to integrate checks into accounting with a single scan, and technical support is readily available to assist clients through any issues.

"Our technology will allow both credit unions to become image-enabled with a very nominal capital investment," stated Shai Z. Stern, Co-Chairman of Skyline's DirectFED Payments Solutions. "Our remote deposit capture software enables credit unions to electronically scan and verify checks from anywhere in the world and deposit them directly into the Federal Reserve Bank."

"The University of Pennsylvania Students Federal Credit Union has always strived to offer our members better rates and low or no-fee services," stated Jessica White, Chairman of the Board at the University of Pennsylvania Students Federal Credit Union. "By signing on with Skyline's DirectFED to use their RDC software, there will be even more of a savings for our members since the process results in the elimination of float and assessment fees, fast access to their capital and optimization of profits and funds availability."

Stern added, "Skyline's DirectFED continues to make an impact in the credit union arena and we look forward to not only working with Right Choice Credit Union and University of Pennsylvania Students Federal Credit Union, but to working with others in the future as well."

About Skyline's DirectFED Payment Solutions

Founded in 2004, Skyline's DirectFED Payment Solutions is the first business-centric processor performing Remote Deposit Capture for a wide range of companies and organizations. Skyline's DirectFED was created to take advantage of the benefits created by Congress passing The Check Clearing for the 21st Century Act ("Check 21"). Our goals for our customers are to optimize float to their advantage, reduce bank fees and provide significant back-office savings by using the new laws and technology to their advantage. Our patented suite of products provides unique solutions for businesses that range from multinationals to small enterprises, not-for-profits, municipalities and all types of financial institutions. For more information on Skyline's DirectFED, visit www.directfed.com.

SOURCE Skyline's DirectFED Payment Solutions