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Using the Right Financial Services Makes Ministry Banking Easier and More Efficient

by John Campbell


April 6, 2018

One advantage of banking with a financial institution that understands what you do is that they design financial services with your operating practices in mind. This is true of business banks, and it’s especially true of a credit union like ECCU. A key to making the most of these services is to use the right ones for the right things. Here are some resources that ECCU ministry members find extremely helpful and how they typically utilize them.

Online and mobile banking. One key to making efficient use of financial services is having access when you need them. Online and mobile banking give you 24/7 access on any device to your ECCU checking and savings accounts, enabling you to manage them when and how you choose. You have ready access to cash management services like ACH, bill pay, wires and remote deposit capture (RDC). One screen shows all your online activity, and you can search using keywords to find specific transactions. You can also assign and control who uses accounts and set up alerts to let you know when certain types of transactions have occurred. Finally, you can deposit checks (up to $10,000) using your phone or tablet and make or collect payments (up to $15,000) with online bill pay.

RDC (remote deposit capture). A bit more about this time-saving, secure service. RDC lets you deposit checks around the clock without leaving your office by capturing check images with a special scanner that ECCU provides. After scanning, yout review your deposit and then submit it online. Afterwards, RDC exports the check images to your financial system. If you already utilize RDC, you’ll also want to ask about image file deposit (IFD) for secure transmission of images to ECCU for deposit.

Shared branches. When it comes to depositing cash, this is your quick, convenient option. Besides depositing cash, as an ECCU member organization, you can also withdraw and transfer funds at one of the thousands of shared branches located around the country. To find one near you, go here.

Another service, while not a banking one, that’s well worth considering is online giving. To learn how it works and why it’s important for most ministries, check out Focus on Online Giving.

As your ministry grows, so does the scope and complexity of your financial management needs. ECCU members can save time and money by wisely utilizing the accounts and services the credit union offers. For a more complete look at these services, visit here.

Category: Ministry Matters