Monday, May 9th 2005 - Albemarle, NC - Uwharrie
Capital Corp was recently featured in the publication
American Banker as a leader in using Imaging Technology.
By partnering with Fidelity National Financial Inc. we
can now transmit images directly to our item processing
center. Items that can be settled internally are now
cleared electronically, while we print Image Replacement
Documents (IRDs) that can be cleared through the normal
channels. With the "Check Clearing for the 21st
Century Act" that took effect in October 2004, IRDs
became a legal replacement for original checks.
"The 2pm banking day 'cut-off time' for posting items
to your account the same day' has disappeared." said
Jackie Jernigan, Executive Vice President, Uwharrie Capital
Corp. "Customer transactions received up until 5pm
are now posted on the same calendar day they are received,
with the exception of transactions received during Saturday
morning hours (these are posted on Monday). All Day Banking
means greater flexibility for our customers."
"Very few institutions have been able to take full advantage
of the benefits allowed by Check 21 until now," said Gary
Norcross, president of Fidelity's Integrated Financial
Solutions division. "Anson
Bank & Trust, Bank
of Stanly, and Cabarrus
Bank & Trust are the first institutions in the
country to implement our system and have already seen the
value in terms of reduced costs and improved processing.
The partnership between Uwharrie Capital Corp and Fidelity
was absolutely invaluable to the success of this project
-- and one on which we intend to build as we look to assist
the bank with its ongoing technology needs."
By working together, we can continue to enhance the well
being of the counties we serve and make a difference in
our community.
