Case Study: University of Iowa Community Credit Union saves time and money with Edenred Pay

University of Iowa Community Credit Union saves 4–5 hours a week with Edenred Pay

University of Iowa Community Credit Union aimed to become a top US financial institution but faced inefficiencies from its reliance on paper checks. Issues included lost checks, which required significant staff time to resolve, and the ongoing costs of maintaining paper-based systems. Seeking an electronic payment solution, they were introduced to Edenred Pay's virtual card program through their AP provider, BankTEL Systems.

The solution involved implementing Edenred Pay's Payment Automation Platform, which was integrated with the BankTEL ASCEND system. Edenred Pay provided crucial vendor enrollment support and a dedicated relationship manager, making the implementation smooth. The results for University of Iowa Community Credit Union were significant, saving 4-5 hours per week in staff time through reduced check handling and faster reconciliation. Furthermore, they achieved cost savings from eliminating postage and check stocks, plus gained rebate revenue, all contributing positively to their bottom line.

University of Iowa Community Credit Union