Please note that starting on July 1, 2018, a new Federal Regulation requires all checks using Mobile Banking and the remote deposit capture feature, to use a restrictive endorsement. All members currently using Mobile Banking have been sent a letter explaining the new endorsement.
Here is the updated endorsement language in the Mobile Banking Agreement:
ENDORSEMENT/STORAGE: You agree to properly endorse the check on the back as it appears on the “payable to” line and include an endorsement similar to: “for mobile deposit only at MCCFCU“ or “for mobile deposit only at Mercer County Community FCU” or “mobile deposit only MCCFCU”. Duplicate presentment of checks and images at the Credit Union or another depository institution is considered fraud.
For a check payable to you AND any joint owner, both must endorse. If a check is payable to you OR joint owner, either can endorse it. You agree to securely store each original check that you deposit using these services for a period of at least sixty (60) days. After sixty (60) days and not later than ninety (90) days after you transmit the original check, you may safely destroy the original check. You agree to never re-present a check for deposit. You understand that you are responsible and liable for any loss caused by your failure to secure the original checks.