Magazine article American Banker

Ahmanson Unit Offers Statements with Digitized Images of Checks

Magazine article American Banker

Ahmanson Unit Offers Statements with Digitized Images of Checks

Article excerpt

Home Savings of America, the nation's largest savings institution, is offering customer statements with digitized images of canceled checks.

The $38 billion-asset subsidiary of H.F. Ahmanson & Co., Irwindale, Calif, will offer statement imaging to all of its checking account customers, making it the largest institution in California to do so. The service could eventually involve more than 700,000 accounts spread over Home Savings' nine-state branch network.

Customers who opt for the service will receive images of their checks, printed 15 to a letter-sized page. Only the front of the check will be reproduced. Customers also can request up to four facsimiles of checks each month, including images of both the front and back, at no additional charge.

Free Option for Customers

New checking account customers will receive image statements automatically. Home Savings will promote the service to existing customers as a free option, using statement stuffers and other means, according to Ed McGrath., an executive vice president and director of Home Savings' retail services division.

Mr. McGrath said Home Savings has incorporated International Business Machines Corp.'s ImagePlus system with its existing IBM check processing equipment to capture the images and create the statements.

Big Postage Savings Seen

The main benefits to Home Savings, said Mr. McGrath, will be reductions in both processing time and the cost of mailing monthly statements. The image capture process eliminates the need to fine-sort checks, which Home Savings estimates can reduce statement processing times by up to 80%. …

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