Washington, DC (June 30, 2009) —NCB, a leading financial services company, introduces Virtual Vault with Safepoint®, the newest addition to the Bank’s latest cash management services, in part of its ongoing mission to provide business banking customers with the most complete and convenient suite of products and services. The Virtual Vault, NCB’s coin and currency services platform, provides users with deposit acceptance, shipment and processing, cash preparation and change order fulfillment. This service is offered in strategic collaboration with Loomis, the leading provider of complete cash logistics solutions for financial institutions, retailers and other commercial enterprises; including secure armored transport, automated teller machine (ATM) services, cash processing and outsourced vault services. In 2004, Loomis launched SafePoint®, the company’s integrated cash management solution for retail and commercial establishments which handle cash routinely. NCB’s Virtual Vault with Safepoint® aims to provide customers access to a national cash distribution network, complimented by an integrated one-source solution designed to serve all cash needs and reduce risk to businesses.
One of the unique and advantageous features offered by this partnership with Loomis is the ability for business owners to deposit funds in a safe manufactured by Tidel, the long-time industry leader. The Tidel safe counts and validates currency and provides provisional same-day credit, allowing immediate access to the funds. The opportunity to utilize funds without delay is a distinct part of the NCB program, and allows businesses to run smoothly and effectively, with access to its full operating capital at all times.
“As part of NCB’s ongoing commitment to providing a comprehensive array of products and services to meet all of our business customer’s financial needs, we’re pleased to offer the Virtual Vault product, further increasing the Bank’s high-level of security and efficiency for customers in our network,” stated Charles E. Snyder, President and CEO of NCB. “We take great pride in our ability to provide superior service and Virtual Vault, along with the provisional, same day credit, is another way we can enhance our customer’s banking experience.”
Some of the most popular features of the Virtual Vault platform include armored car service up to seven days a week, deposit totals processed daily, the provisional same day credit available through SafePoint® and change orders via phone, fax or online. With over 240 servicing locations across the country, the NCB-Loomis partnership allows the Bank to meet all of its business customers banking requirements, regardless of geographic location.
NCB customers have recently started putting Virtual Vault to use and are raving about the product’s success. New Leaf Market, a grocery cooperative in Tallahassee, Florida was one of the first users of the new business-friendly product. As the 35-year old, member-owned organization was in the process of an expansion—making it the largest natural food cooperative in North Florida and South Georgia—the management team decided it was the right time to implement the Virtual Vault system.
“As our cooperative was embarking on another expansion, we recognized it was the right time to implement new technology to increase the efficiency of our operations. Our old system was tedious, requiring manual input of deposits, daily travel to the bank and a delay in accessing the funds,” said Benjamen Goldberg, Finance Manager of New Leaf Cooperative. He continued, “By implementing the Virtual Vault system, we have saved substantial time and money, while simultaneously increasing security—an ideal solution for any business.”
For more information on Virtual Vault, or any of NCB’s other cash management services, contact NCB’s Deposit Production Office at (866) 904-3620 or email email@example.com
NCB Financial Group (NCB) is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, NCB also has offices in Alaska, California, New York and Virginia. To learn more about NCB Financial Group, visit www.ncb.coop.
NCB Financial Group (NCB) consists of National Consumer Cooperative Bank, a wholesale funding company; NCB, FSB, a federally-charted savings bank; and, NCB Capital Impact, a 501(c)3 nonprofit. Loans and other financial services are provided by NCB, FSB and NCB Capital Impact. Deposit products and services are provided by NCB, FSB, which is a member FDIC. Each is a separate corporation within the NCB Financial Group.