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NCB Launches Real Time Deposit for Business Customers Nationwide

Deposit Anytime, All the Time and in Real Time


Washington, DC (March 31, 2008)
— NCB, a leading financial services company, announces Real Time Deposit, a remote deposit capture product, and the Bank’s latest progression in providing its business customers the most complete and convenient suite of business banking services. Real Time Deposit provides NCB customers the ability to image-capture check payments at their business location—via a secure internet connection—and deliver the images and information to NCB for immediate electronic deposit into their operating account.

“As part of NCB’s ongoing commitment to providing a comprehensive array of products and services to meet all of our business customer’s financial needs, we’re pleased to offer this new product,” stated Charles E. Snyder, President and CEO of NCB. “We take great pride in our ability to provide superior service and Real Time Deposit is another way we can enhance our customer’s banking experience

With a single scan of the checks, Real Time Deposit image captures the front and back, and transmits the scanned images to NCB electronically for posting and clearing. The convenience of scanning checks eliminates trips to the bank, speeds up access to the funds and reduces possible cases of fraud.

NCB customers have recently started putting Real Time Deposit into use and are raving about the product’s success. For Jeffrey Lockard, owner of a NAPA AUTO PARTS store in Wilmington, Ohio, the advantage of deposit turnaround time, security and employee efficiency are some of the best benefits to the program. “NCB’s Real Time Deposit offers significant advantages to a small business, where staffing is always critical. Our work is time-sensitive and geared toward customer service. If we’re running to the bank to make deposits, its taking us away from profit-generating activities and we’re not being productive in meeting my business goals.”

He added, “I would recommend Real Time Deposit to everyone. It’s the most user-friendly, cost-effective means of making deposits. As a small business owner, my time is so important. Every NAPA store owner, especially those with multiple locations, needs to see this product. It’s made an impact on my life by making us more productive.”

In addition to increasing efficiency, the system is easy to install and use. According to Chris O’Connor, Chief Financial Officer of Transportation Management Services, a leading national logistical service firm for large-scale events like the National Republican Convention and NBA All-Star Games, “The learning curve was a piece of cake. Because Real Time Deposit retains check images, there’s no need for photo copies of checks, all the images are saved electronically.”

He went on to say, “I would absolutely recommend this product to other businesses. It gives us the flexibility to deposit checks from our customers without putting someone on the road. It’s quicker and safer.”

Echoing the success and convenience noted by other customers, Brian Russo, Accounting Manager for three ACE Supply Hardware stores in California, was also impressed with the timeliness of deposits and cost savings to the user.  “We use Real Time Deposit for our accounts receivable" says Russo.  "We take in 400 to 500 checks a month, and run the Real Time Deposit five days a week.  Prior to using the product, we relied on a lock box with a local bank that cost a lot of money. Real Time Deposit is the future for checks—it’s the only way to go”

The basic requirements for NCB’s Real Time Deposit are a windows based personal computer with an internet connection, and an NCB provided check scanner.  For more information, contact Rob Barlow at (866) 904-3620 or email dpo@ncb.coop.

NCB Financial Group (NCB) consists of National Consumer Cooperative Bank, a wholesale funding company; NCB, FSB, a federally-charted savings bank; and, NCB Capital Impact, a 501(c)3 nonprofit.  Loans and other financial services are provided by NCB, FSB and NCB Capital Impact.   Deposit products and services are provided by NCB, FSB, which is a member FDIC.   Each is a separate corporation within the NCB Financial Group.

NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, NCB also has offices in Alaska, California, New York and Virginia. In addition, NCB has a growing community banking network in southwestern Ohio. To learn more about NCB, visit www.ncb.coop.