Case Study: University of Iowa Community Credit Union achieves time and cost savings by eliminating paper checks with Edenred Pay

Credit union makes move away from paper checks and gets immediate benefit of time and money saved

University of Iowa Community Credit Union faced inefficiencies from processing nearly all payments by paper checks—lost mail, staff time spent researching and reissuing checks, maintaining check stock, and manual stuffing and reconciliation. Working with BankTEL Systems, the credit union moved to an electronic payments approach by adopting Edenred Pay’s virtual card/accounts-payable solution (implemented through the CSI Paysystems program recommended by BankTEL).

Edenred Pay handled vendor enrollment outreach, provided a dedicated relationship manager and training, and integrated with BankTEL ASCEND so UICCU could continue normal AP processing while files were sent automatically for card distribution. The change reduced reconciliation and mailing work, saving about 4–5 hours per week, cut postage and check-stock costs, and generated rebate revenue and potential new income streams that improved the credit union’s bottom line.

University of Iowa Community Credit Union

Jennifer Grecian

Accounting Specialist