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Atlanta, Georgia Office

3930 East Jones Bridge Road
Atlanta
GA
US

Owings Mills, MD Office

25 Crossroads Drive, Suite 200
Owings Mills
MD
US

Los Angeles Office

11150 Olympic Blvd, Suite 600
Los Angeles, CA
US

The Hague, Holland Office

Loire 200-202
The Hague
NL

London, UK Office

Baker's Hall 7 Harp Lane
London
GB

Singapore Office

30 Cecil St. #22-02/08 Prudential Tower
Singapore
SG

Scottsdale, Arizona Office

7272 E. Indian School Road
Scottsdale
AZ
US

Jersey City, NJ Office

10 Exchange Place, 23rd Floor
Jersey City
NJ
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Brookfield, Wisconsin Head Office

255 Fiserv Drive
Brookfield
WI
US

Sydney, Australia Office

Level 14 124 Walker Street
North Sydney
AU

Luxembourg Office

4 Rue d'Arlon
Luxembourg
LU

Uxbridge, UK Office

7 Roundwood Ave
Uxbridge
GB

Lake Mary, Florida, US Office

600 Colonial Center Pkwy
Lake Mary
FL
US

Telephone

617-217-2816

Contact

Melanie Cousins
[email protected]
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When Pentagon Federal Credit Union Offered Consumer Source Capture from Fiserv to its Members, Deposits Soared

Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that Pentagon Federal Credit Union (PenFed) has implemented Consumer Source Capture(TM) from Fiserv to allow its members to make deposits anytime from the convenience of their homes, and members were swift to respond.

Branded "Deposit Anywhere", PenFed has already seen remarkable results since implementing Consumer Source Capture from Fiserv in June this year. Three weeks after launch, PenFed saw more weekly deposits from "Deposit Anywhere" than from its web-based mail deposit service that had been in place for seven years. The value of the deposits increased as well and after 6 weeks was almost double the mailed deposits.

"The adoption rate has soared beyond our expectations. In fact, we had members using 'Deposit Anywhere' before we had even begun to market it," said Mike Williams, vice president, Applications Management, Pentagon Federal Credit Union. "Clearly our members found this easy to use and convenient, and we expect to see adoption continue to climb. This is just part of PenFed's overall strategy of moving more members and transactions to the online channel and away from 'brick and mortar' branches."

PenFed took a strategic approach in rolling out consumer capture to its members. The credit union targets members who are in good standing, have been with the credit union for at least six months and have a checking, share/savings or money market account. Member eligibility is checked on an ongoing basis, and if they are deemed eligible, no enrollment is required; the "Deposit Anywhere" link will appear online for the member's accounts. PenFed has set a daily limit of $5,000 total deposits per day and funds are immediately available after deposit.