CommonWealth One Federal Credit Union Announces Mobile Deposit via Facebook

ALEXANDRIA, Va. - April 22, 2013 - PRLog -- CommonWealth One Federal Credit Union announced the launch of its newest product, Mobile MyDeposit, on April 1, via its Facebook page. The lead up to launch date was preceded by teaser announcements by Charlotte Cash, President/CEO in her quarterly video message (https://www.cofcu.org/about_us/a_message_from_our_president/) to members and in the quarterly newsletter.

The decision to announce on Facebook instead of the traditional newsletter was made in an effort to reward CommonWealth One’s Facebook community for their loyalty and participation. The change in venue for information release drove more traffic to the site and saw a substantial increase in “likes” in two weeks than had been seen in recent months.

Mobile MyDeposit allows members to deposit checks remotely, quickly and securely by using their Smartphone.  The process is free and easy to use.  Members log into their account with their iPhone or Android, tap into the app, snap a picture of their endorsed check, and deposit it.  This new service compliments the full range of e-services CommonWealth One offers including: mobile banking apps including for iPad, text banking, online bill payment, and e-statements.

“We’re excited about Mobile MyDeposit.  Our members have requested it and we are pleased to offer it as part of our commitment to their financial well-being as their lifetime financial partner,” said Charlotte Cash, President/CEO.  “Whether our members are busy professionals, on-the-go parents, or full time students at our James Madison University branch, they can now save time with the convenience of Mobile MyDeposit.”

CommonWealth One members were solicited to test the new technology prior to launch.  Member feedback was critical in implementation and staff training. In just two weeks, CommonWealth One has seen the number of checks double as compared to the online scanner version of MyDeposit.

To learn more about Mobile MyDeposit, please visit www.cofcu.org/mobilemydeposit.

About CommonWealth One Federal Credit Union

Since 1944, CommonWealth One Federal Credit Union, headquartered in Alexandria, VA, has grown to over $300 million in assets and has become one of Washington, D.C. and Northern Virginia’s top credit unions. Currently, it serves more than 35,000 members including James Madison University and residents of Harrisonburg, VA. CommonWealth One is a full-service, member-owned, not-for-profit financial cooperative committed to being the lifetime financial partner for its members. Excess earnings are returned to members in the form of higher dividend rates, lower interest rates on loans, low or no fees, and state-of-the-art online technology.

For more information on CommonWealth One, visit www.cofcu.org.