Imagine signing loan papers while sitting at your computer at home. This law gives us the possibility to one day offer this convenience to our membership. While this legislation opens the door to possibilities, it also brings many questions. You can be ensured that Campus Federal will seek ways to better member convenience, while protecting your interests. During 2000, point of purchase transactions became prevalent.
Merchants capture information from the paper check and convert it into an electronic item.
This is just another example of the type of advances that are changing the way we all conduct business. You might ask how this affects you. Processing a check like this results in faster funds collection for the merchant and reduces the chances that processing errors can occur. This keeps the cost of goods and services down, as well as reduces the cost to the credit union to process these items. The above two illustrations are examples of changes that affect or will affect our lives.