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MICHIGAN NATIONAL FIRST IN MICHIGAN TO INTRODUCE IBM-DEVELOPED VISUAL STATEMENTS

 MICHIGAN NATIONAL FIRST IN MICHIGAN TO INTRODUCE
 IBM-DEVELOPED VISUAL STATEMENTS
 FARMINGTON HILLS, Mich., Feb. 18 /PRNewswire/ -- Michigan National Bank, long considered one of the state's innovators, is about to introduce another innovation in Michigan banking.
 It was the first bank in the country to open drive-up windows and the first in Michigan to offer Saturday banking, set up a computerized bank operations center, provide electronic transfers, and establish a statewide automated teller machine (ATM) network, a network that is the largest in Michigan.
 Now, said Charles W. Kight, executive vice president, operations and information technology, Michigan National will be the first bank in Michigan to launch CheckImages, a monthly "image statement" that uses technology developed by IBM. The new service becomes available for customer selection in Southeast Michigan on March 5, then will be introduced statewide on April 15.
 CheckImages will provide half-size images of up to 10 canceled checks arranged numerically on a single sheet of letter-size paper.
 "For customers who have elected to receive their canceled checks, the new statements offer an option that could save them valuable storage space," Kight said.
 "For customers who use Check Safekeeping and have elected to receive only a monthly summary, the CheckImages option makes it possible for them to locate and verify information at a glance without having to locate a lost or misplaced check or obtaining a copy of that check."
 The service will be available free to depositors who meet minimum monthly balance requirements and to senior citizens, Kight said.
 "We are committed to delivering benchmark products using technology to provide faster more convenient services for our customers," he said. "CheckImages is another example of how we are doing what it takes to meet our customers' needs."
 Dr. Lou Nielsen, Applications Systems Director of Document and CheckImage Systems at IBM, said, "We are extremely pleased to be working with Michigan National to introduce the CheckImage product to the Michigan market. Our association has been mutually rewarding. It enabled IBM to assure that the product was designed to meet the needs of Michigan National and its customers."
 Michigan National is using the IBM 3890 system that can capture and process check images at 2,400 per minute, the fastest in the industry. IBM reports that this system has a richer set of functions and capabilities than systems being used or tested from other vendors.
 Michigan National is the principal banking subsidiary of Michigan National Corporation (NASDAQ: MNCO), a $10.6 billion bank and savings and loan holding company and a diversified services corporation. It is the 46th-largest bank in the country and the state's fourth-largest. It has 189 branches and the state's largest ATM network.
 -0- 2/18/92
 /CONTACT: Ariadne Magoulias of Michigan National Bank, 313-473-3428/
 (MNCO) CO: Michigan National Bank; IBM Corporation ST: Michigan IN: FIN CPR SU: PDT


KK-DH -- DE025 -- 0063 02/18/92 15:18 EST
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Publication:PR Newswire
Date:Feb 18, 1992
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