NAE Federal Credit Union Looks to Save $160K Per Year Using Bluepoint’s Check 21 Teller Capture™ & Receipt Manager™ Product.

NAE Federal Credit Union is Bluepoint Solutions’ first service bureau environment implementation hosted by Harland Financial Solutions’ core processing system.

Bluepoint Solutions, the premier provider of document management solutions for credit unions, will implement its Check 21 Teller Capture and Receipt Manager product at NAE Federal Credit Union ($107 million; 15,231 members; Harland Financial Solutions Core Processor; Chesapeake, Va.). This is Bluepoint’s first service bureau implementation at a credit union, which, in this case, is hosted by Harland Financial Solutions. Once NAE goes live with Bluepoint’s software in June 2007, the credit union expects to save up to $160,000 per year, reduce fraud, and enhance member service with more efficient operations.

Bluepoint Solutions’ Check 21 Receipt Manager works simply and easily at each teller station, producing an electronic paper record of every transaction. Because electronic receipts are stored instantaneously, they are immediately available to anyone throughout the credit union – with special permissions for accessibility made in advance. Receipt Manager captures the print stream from the credit union’s core processor and creates a digital image for the member to sign and is then stored electronically.

Due to the advancement of deposits via Check 21 (from three days to one), NAE, which handles up to $3 million in deposits daily, anticipates saving up to $150,000 per year in float which equates to an approximate savings of $400 per day. Bluepoint will assist the credit union in this area with its check scanning capabilities. In addition, check transportation services will be eliminated due to Check 21, which will save the credit union another $10,000 per year. All checks and transaction receipts are automatically filed electronically via Bluepoint.

“ Saving this amount of money each year will allow us to continue reinvesting in our credit union,” says Paul Johnson, CFO of NAE Federal Credit Union. “And the larger we get, the more money we will save and, thus, reinvest even more funds to make our credit union that much better for our members to manage their money. We’re very excited about leveraging Bluepoint’s new technology because our ultimate goal is to provide our members with better service and technology so they can get their funds faster.”

In addition, the Bluepoint Check 21 Teller Capture software enhances NAE’s member service by alleviating many teller challenges. For example, the system only allows one transaction at a time. It does not

proceed to the next screen until the current one is correct, automatically catching any errors along the way. As a result, memberaccounts are balanced at the end of the day. Tellers no longer have to stay an hour or so after work trying to balance out. It is done immediately during the member transaction.

“Our tellers don’t need to worry about balancing out anymore with Bluepoint,” Johnson says. “They will enjoy the fact that they can automatically balance out at the end of each day now. It’s all done immediately at the teller line and that makes sense for us and our members.” More importantly, with the use of Bluepoint’s Check 21 Receipt Manager software, NAE is able to maintain the integrity of each transaction. Instead of a teller piling their checks and a piling their receipts, Receipt Manager will electronically staple the receipt to the check image, thus maintaining the integrity of the transaction.

As for mitigating check fraud, the Bluepoint imaging system scans for the magnetically inked MICR line. If there is a problem with the MICR line, it can be manually corrected or rejected due to fraud. In addition, the system looks for matching CAR/LAR amounts on the check. If not, the member is alerted, while still at the teller line, and corrected immediately – which is also good member service.

“ We feel that Bluepoint is the technological leader in providing Check 21 solutions and a chief architect in document management for credit unions,” Johnson states. “We are driven to serve our members. And with Bluepoint’s Teller Capture and Receipt Manager, NAE can provide our members with faster, more efficient service so they can receive their funds promptly.”

“ Bluepoint is pleased to help NAE Federal Credit Union provide its members with enhanced service and security measures to reduce fraud,” says Hal Tilbury, president of Bluepoint Solutions. “We’re also pleased to help them save hundreds of thousands of dollars each year in reduced operations costs and transportation expenses in dealing with Check 21 processes. Bluepoint looks forward to assisting NAE Federal with its goal of becoming a true paperless credit union in the next few years.”

Paul Johnson, CEO, NAE Credit Union welcomes inquiry calls. Mr. Johnson may be contacted via phone at
757.410.2009 or email at PJohnson@NAEFCU.org.

About Bluepoint Solutions
Bluepoint Solutions provides the most advanced document management solutions available for the credit union market. In terms of underlying technology and application layer, Bluepoint products are unparalleled in both breadth and depth. Privately held, Bluepoint Solutions is headquartered in Vista, California. Additional information is available at the company’s Web site (www.bluepointsolutions.com) or by calling (888) 332-7052.

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