WAVES OF CHANGE From: Credit Union Management | Date: February 1, 2004| Author: | Copyright Credit Union Executives Society Feb 2004. Provided by ProQuest LLC.Copyright information

With the Check 21 bill a law since December, credit unions will quickly need to evolve from theoretical discussions to the practical aspects of More importantly, they will need to recognize that the implications of Check 21 will occur in several waves over the next three to five years, as technology matures and is deployed by credit unions and as standards for exchange mature and gain widespread acceptance. Credit unions will need to move rapidly to gain the financial benefits.

BACKGROUND

To understand the changes Check 21 will bring, let's review how a check is processed currently:

1. Checks ...

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