The Minnesota Item Processing Corporation has provided credit unions with a cost-effective processing facility for more than 30 years. Originally organized as a CUSO, MnIPC is now a wholly-owned subsidiary of the Minnesota Credit Union Network.
MnIPC works with credit unions across Minnesota, and nationwide, providing a complete suite of check processing services; including inclearings, return items and image archive, as well as handling branch, remote, home and smartphone deposits. MnIPC also maintains a full seven-year image archive of all check images that are sent out for deposit or processed. Dedicated to credit unions, MnIPC's experienced staff provides unsurpassed customer service to their clients.
To learn more about MnIPC and the check processing services it has to offer your credit union and its members, contact MnIPC Vice President of Operations Michelle Carlson by email or at (651) 288-5551.
3rd Quarter 2013
MnIPC staffers certified for check payment expertise
Two staffers from the Minnesota Item Processing Corporation (MnIPC) received certification as National Check Professionals last week in the National Check Professional Certification (NCPC) program, enabling them to demonstrate expertise in the various aspects of check payments.
Michelle Carlson and Ryan Fox received this certification from Electronic Check Clearing House Organization (ECCHO), a not-for-profit corporation that provides and maintains national rules regarding both paper and electronic check payments.
Carlson, MnIPC Vice President, and Fox, Accounting & System Administrator, spent six months preparing for the 120-question exam, which demonstrates "a working knowledge of every significant aspect of the new check payment system including products and operations, relevant rules and laws that govern checks, industry standards and fraud and risk mitigation considerations,” according to ECCHO.
"The National Check Professional certification is the ‘gold standard' in check payment industry, and the information on trends and regulations helps to sharpen our knowledge in many areas,” Carlson said. "Having two staff who are NCP-certified gives MnIPC a credible competitive advantage over other professionals in the check payment industry today.”
MnIPC is part of the Network Service Corporation, a wholly-owned subsidiary of the Minnesota Credit Union Network. MnIPC was originally formed in 1994 and provides credit unions with a cost-effective check processing alternative, as well as remote deposit capture, return item processing, online image access, and adjustment processing.
MnIPC acquires ProDraft, adding to processing solutions services
On Sept. 1, the Minnesota Item Processing Corporation (MnIPC) completed the purchase of ProDraft Services, LLC, a North Dakota-based credit union service organization (CUSO) that provides correspondent and EFT processing solutions.
MnIPC is a St. Paul-based independent item processor that has served credit unions for more than 30 years. As a wholly-owned subsidiary of the Minnesota Credit Union Network, MnIPC offers experienced item processing and affordable solutions to its clients nationwide.
Together, the combined companies will move forward under the MnIPC name.
The merging of these assets creates additional strength for MnIPC clients and offers a continuation of the services offered by ProDraft, with the benefits of enhanced technology, greater efficiencies and increased financial stability. In addition, the merger allows MnIPC to offer expanded products and services to its clients and be well-positioned for future growth opportunities.
"We are excited about the ProDraft purchase and are looking forward to the opportunities that the newly-acquired ACH and ‘payable through’ products and services will bring to MnIPC as we continue to market our services nationally,” said MnIPC Vice President Michelle Carlson.
The purchase of ProDraft significantly expands MnIPC’s footprint into neighboring North Dakota, which complements its nationwide expansion that began several years ago. Earlier this year, MnIPC announced a cooperative effort with CUsource in Montana, adding CUSOs to its client list and enabling the company to showcase its quality of service on a national level.
The acquisition of ProDraft allows MnIPC to increase volume, pricing power and overall efficiencies.
"Our recent expansion enables us to showcase our experience, reliability and affordability to a broader audience, all while continuing our tradition of superior customer service,” Carlson said.
MnIPC utilizes industry-leading technology to provide fully integrated, state-of-the-art item processing solutions, including:
- MICR image capture,
- Check 21 services,
- remote deposit capture,
- mobile deposits, and
- a seven-year online image archive.
In addition, MnIPC offers flexible settlement arrangements, which allows clients to independently choose the banking institution that is right for them.
2nd Quarter 2013
MnIPC partners with Montana CUSO to provide cost-effective deposits
Continuing its expansion in working with credit unions nationwide, MnIPC recently announced a partnership with CUsource, a Montana-based credit union service organization (CUSO). This partnership allows the CUSO and MnIPC to combine deposit item volume and help control cost for credit unions.
Building upon a long history of superior service in the Minnesota market, MnIPC began expanding its service to credit unions around the country several years ago. Now, in its cooperative effort with CUsource, MnIPC has added CUSOs to its client list. This added focus enables the company to showcase its quality of service on a national level and helps stabilize revenue in a declining deposit item environment.
"MnIPC has consistently provided excellent member service and innovation, which has led to the evolution of the organization and made it the quality client partner it is today,” said MnIPC Vice President Michelle Carlson. "We are excited to work with CUsource on its credit union deposits. This cooperation between entities within the credit union system is a mutual benefit for all parties involved.”
CUsource is a credit union-owned CUSO headquartered in Great Falls, Mont. It provides data processing, draft processing, real estate, print/mail and security services to credit unions in Montana, Kansas, Washington and Wyoming. By partnering with MnIPC, the CUSO will be able to process its credit unions' deposit items more efficiently and cost-effectively using MnIPCs technology and expertise.
By taking advantage of the latest technology, MnIPC leads the way in providing fully integrated, state-of-the-art item processing solutions, including: MICR image capture, Check 21 services, remote deposit capture, mobile deposits, and a seven-year online image archive. With aggregation of volume and flexible settlement arrangements, MnIPC offers some of the best rates in the country that are backed by more than 30 years of experience and a proven track record of exemplary service.
For more information about MnIPC, contact Vice President Michelle Carlson by email or call (651) 288-5551. For information about all of MnCUN's products and services, contact MnCUN Vice President -- Network Service Corporation John Ferstl by email or call (651) 288-5505.
4th Quarter 2012
MnIPC continues national expansion with addition of North Dakota credit union
Continuing its expansion across the country, MnIPC recently announced that Northland Educators FCU in Fargo, N.D. has signed onto its deposit services. Northland Educators FCU joins more than 100 credit unions that use MnIPC's cost-effective services for member share draft and deposit processing.
Several years ago MnIPC began expanding its service beyond Minnesota to serve credit unions throughout the country. This expansion has enabled them to reach more credit unions with their superior service and further their relationships with credit unions across the country.
Northland Educators FCU's CEO Jeff Anstadt has a long history with MnIPC, working with the company as the former CEO of Moorhead FCU in Minnesota. When his credit union began searching for an alternative check processing solution, MnIPC was the first organization that Anstadt called.
"As a former client, I know firsthand the quality of MnIPC's products and service,” Anstadt said. "I am excited to once again work with MnIPC and am confident that they will meet and surpass our needs.”
By taking advantage of the latest technology, MnIPC leads the way in providing fully integrated, state-of-the-art item processing solutions, including: MICR image capture, Check 21 services, remote deposit capture, mobile deposits, and seven-year online image archive. With aggregation of volume and flexible settlement arrangements, MnIPC offers some of the best rates in the country that are backed by more than 30 years of experience and a proven track record of exemplary service.
Become a MnIPC client today and discover how it can meet and surpass all of your check processing needs. For more information about MnIPC's products and services, contact Vice President Michelle Carlson by email or at (651) 288-5551.
3rd Quarter 2012
South Metro FCU offers members mobile deposits through MnIPC & Cachet Financial Services partnership
As part of its ongoing effort to improve service to members, South Metro Federal Credit Union recently signed onto Cachet Financial Services' remote deposit capture. This service is available to credit unions through a partnership established earlier this year between MnIPC and Cachet Financial Services.
South Metro FCU is the third credit union to take advantage of this partnership between the two organizations. This collaboration enables the credit union to integrate mobile remote deposit capture into its mobile banking platform. Through this technology, members can make a deposit by taking a picture of a check with their phone and sending it to the credit union. Cachet's CheckReview™ product monitors the deposits with real-time image verification, and MnIPC completes the cycle by processing South Metro FCU's checks.
MnIPC's collaboration with Cachet Financial Services furthers its ongoing initiative to offer credit unions premier check processing solutions, including mobile deposit services. MnIPC is a leading check processor for financial institutions that provides a full suite of item processing services. Cachet Financial Solutions is a prominent provider of commercial and consumer remote deposit capture (RDC) solutions for financial institutions and credit unions.
Remote mobile deposit enables credit unions to expand their marketing footprint, strengthen existing member relationships, provide members greater convenience and attract new deposit members. Through Cachet's Select Mobile™ Product, MnIPC clients provide members the ability to deposit either personal or business checks via smartphones with cameras, including iPhone, Android, BlackBerry and select tablets.
"We are excited that South Metro has taken advantage of the unique offers available through the collaboration between MnIPC and Cachet Financial Services,” said MnIPC Vice President Michelle Carlson. "Through the mobile deposit platform, MnIPC furthers its goals to assist credit unions in distinguishing themselves as organizations dedicated to meeting and surpassing members' needs.”
Become a MnIPC client today and discover how it can meet and surpass all of your check processing needs. For more information about MnIPC's products and services, contact Vice President Michelle Carlsonby email or at (651) 288-5551.
2nd Quarter 2012
MnIPC introduces savings bond processing
Credit unions can now scan and redeem savings bonds electronically through MnIPC Deposit Services. This new service further distinguishes MnIPC as the place for one-stop check processing.
As an innovative leader, MnIPC provides fully-integrated, state-of-the-art item processing solutions. Through volume aggregation and flexible settlement arrangements, MnIPC offers a unique combination of low prices and excellent service. With more than 30 years of experience, MnIPC has a complete suite of check processing solutions, some of which include:
- Standard item processing services;
- Remote deposit capture services;
- Mobile deposits;
- Flexible settlement; and
- Home banking interface.
Become a MnIPC client today and discover how they can meet and surpass all of your check processing needs. For more information about MnIPC's products and services, contact Vice President Michelle Carlsonby email or at (651) 288-5551.
1st Quarter 2012
MnIPC grows client list during the 1st quarter
Throughout the first quarter, MnIPC increased its number of clients through the expansion of its service to NorthRidge Community Credit Union in Virginia, Minn., and the addition of New Mexico Energy Federal Credit Union in Albuquerque, New Mexico. These two credit unions join more than 100 credit unions nationwide that use MnIPC's cost-effective services for member share draft and deposit processing.
Building upon a nearly 10-year relationship with NorthRidge Community Credit Union, MnIPC recently added deposits to its list of services for the credit union. Serving as a high-tech, high-touch organization, MnIPC has provided superior service to credit unions in the Minnesota market by continually offering visionary products and services.
The addition of New Mexico Energy FCU continues MnIPC's national expansion. Building upon a long history of superior service in the Minnesota market, MnIPC began expanding its service to credit unions around the country several years ago. This expanded focus has enabled the company to reach more credit unions and showcase its service on a national level.
Check out MnIPC today and experience its superior service and visionary products. For more information, contact MnIPC Vice President Michelle Carlsonby email or at (651) 288-5551.
MnIPC ownership consolidated and restructured
Continuing its commitment to service, MnIPC began 2012 with consolidated ownership following the redemption of its stock in December. The organization redeemed its stock from Minnesota credit unions and transferred complete ownership to the Network Service Corporation, a wholly-owned subsidiary of MnCUN.
MnIPC was originally formed in 1994 to provide credit unions a cost-effective check processing alternative. At this time, a stock offering was introduced to raise capital for the purchase of equipment and to build the infrastructure necessary for the business. Since the original stock subscription, MnIPC has experienced consistent growth and success, posting a profit for 15 consecutive years. The continued stability and profitability of the organization, along with the reasonable return it offered to shareholders, led to the Board's decision to redeem outstanding stock.
"Over the years, MnIPC has consistently provided excellent member service and innovation, which has lead to the evolution of the high-tech, high-touch organization it is today,” said MnCUN Vice President – Network Service Corporation John Ferstl. "We thank MnIPC shareholders for their longtime support and look forward to offering credit unions around the country unsurpassed service as we enter this new chapter of MnIPC history.”
MnIPC is dedicated to offering credit unions share draft and deposit processing services at competitive rates. Check out MnIPC today and discover how they can help make your check processing faster and more efficient. For more information about MnIPC's products and services, contact Vice President Michelle Carlson by email or at (651) 288-5551.