Torrance Community CU Kicks Off Deposits Via iPhone

Torrance (Calif.) Community Credit Union said it successfully accepted its first mobile phone deposit over an iPhone.

Under the program, one of the nation’s first deposit-by-iPhone, the $90 million credit union is making the iPhone software available free by download from the App Store.

The software application was developed by a wholly-owned subsidiary of EasCorp FCU, Vertifi Software, LLC. The software interfaces with Innovative Technology mobile banking solutions provided to Torrance Community. Deposits are posted to members’ accounts in real time with immediate access to check images.

Checks will be processed electronically, end-to-end, through the credit union’s partnerships with EasCorp, of Burlington, Mass., and INTECH of Omaha, Neb.

"This is the leading edge of remote deposit technology and an important addition to our online service delivery channel," said Steve Stoppel, president of the credit union. "Our members demand convenience, and [remote deposit] delivers it. They no longer have to visit a branch during our business hours to make a check deposit."

Torrance Community has relied on INTECH’s home banking services since 2004 and mobile banking services since 2009. The credit union recently joined EasCorp in order to take advantage of the corporate’s RDC program, DeposZip. Stoppel learned that EasCorp was developing its DeposZip Mobile program and put the two companies together to create the interface.