Case Study: Financial Partners Credit Union achieves 30% cost savings with Alogent and the Fed’s Check Services

Financial Partners Credit Union Switches to the Fed’s Check Services

Financial Partners Credit Union, a California-based credit union with $787 million in assets and more than 50,000 members, wanted to improve member services and streamline internal operations. As it evaluated a switch to the Fed’s check services, the team needed to overcome concerns that the transition would be difficult, labor-intensive, and costly. Vendor Alogent is listed on the case study, and the credit union’s check processing environment included FedLine Advantage access along with image-enabled channels.

Alogent supported Financial Partners Credit Union in moving to the Fed’s full suite of Check 21-enabled services, including FedReceipt, FedReceipt Plus for Returns, FedForward, and FedReturn, with a seamless 60-day transition. The implementation eliminated paper moving through the system, improved control over check processing, and helped the credit union add image-enabled ATMs and Mobile Deposit. Financial Partners Credit Union reported saving 30% over its previous costs, while also gaining more efficient reconcilement and better funds availability for large wires.

Financial Partners Credit Union

Elvia Saputo

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