- Reclaim up to 10% of your transactional deposits for reinvestment
- Permanently recover your Federal Reserve Bank balance
- Immediately impact your bottom line in less than 45 days with Deposit Reclassification
Barb Najacht Account Manager
UFCU Union wanted to reduce our reserve balance, and expand our lending. More and more members were making deposits and then letting those funds sit and earn interest over time. This flush of deposits resulted in a higher reserve balance, but unfortunately we could not capitalize on these illiquid, Fed-held funds. At first, logicpath's Deposit Reclassification system almost seemed too good to be true, but I am happy to report that was not the case. I was extremely impressed with the logicpath staff and their presentation of Deposit Reclassification – they 100 percent convinced me. It was clear that this solution was the real deal. The entire implementation went incredibly smooth. logicpath did a phenomenal job of providing us with all of the documentation that we would need in a format that was easy to understand. I wish more vendors would go through the implementation process like logicpath. They could not have done a better job. Deposit Reclassification automatically saves us this cost by eliminating our reserve balance, and that is strictly cost savings — we can further increase our revenue by reinvesting these funds in mortgage and consumer loans.