RYE, N.Y.—USAlliance Financial Credit Union said it has launched a new feature called Add Cash for its MyLife Checking account, allowing members to deposit cash at major retail locations nationwide through the credit union’s mobile banking app.
According to a statement from the $3-billion credit union, the service is powered by InComm Payments and enables members to add cash at retailers including Walmart, CVS, Walgreens and participating 7-Eleven locations.
USAlliance said members using its digital banking app can generate a one-time barcode, present it to a cashier and complete a cash deposit in several steps.
‘Members’ Real Needs’
“Everything we build starts with our members’ real needs in mind,” Harry Zhu, president and CEO of USAlliance Financial, said in a statement. “Add Cash is a direct reflection of that focus, and we are proud to bring this kind of meaningful, everyday convenience to the people we serve.”
According to the credit union, the feature does not require members to share account information at the register, with only the barcode presented during the transaction. Deposited funds are immediately available, and members receive instant confirmation of deposits.
“Our members are always on the go, and Add Cash was created to give them greater flexibility,” Carlos Fonseca, chief marketing and experience officer and executive vice president of marketing and experience, said in a statement.
A Response to ‘Reality’
Fonseca added that while digital payments continue to expand, many consumers still rely on cash transactions in their daily lives.
“Add Cash brings that reality into the digital experience by giving members a convenient, secure way to deposit cash at familiar retail locations,” Fonseca said.
