Irondale, Alabama and New York – Corporate America Credit Union (CACU), serving nearly 500 credit unions nationally, is now a certified participant on the RTP® network, the real-time payments network operated by The Clearing House (TCH). CACU has successfully received a payment internally to verify its readiness to receive payments on behalf of its member credit unions.
As a participant on the RTP network, CACU can receive credit transfers in real time and post immediately to their members’ accounts. VSoft Corporation, CACU’s fintech partner and third-party service provider (TPSP), successfully implemented its transaction automation technology into CACU’s core, making the receiving of real-time payments via the RTP network a reality.
CACU also serves as a funding agent for its members, meaning Corporate America will be able to fund and manage positions in the RTP network joint account on behalf of its members, which will allow them to facilitate their member’s direct participation on the RTP network.
Collaboration with members drives the priorities of new services at CACU, and Chief Innovation Officer Lisa Coffey says this is just the first of many projects to keep their members on the cutting edge of faster payments. “Access to the RTP network is key for our member credit unions wanting to serve their members with the most up to date technology. Being able to receive payments through the RTP network is just the beginning of more faster payment options for our members. We can’t wait to bring even more faster payment innovations to our members in the future.”
Corporate America President/CEO Pete Pritts says the team continues to work on behalf of its members. “We are so thrilled to be able to partner with TCH and VSoft to bring new opportunities to our nearly 500 members. They are asking for more options within the faster payments world and we are committed to providing those offerings.”
About Corporate America Credit Union
Different Starts Here is our motto – but what exactly does that mean? It means we think differently, act differently and treat our members differently with a common goal – to truly add value to your organization. Founded in 1982 and based in Irondale, Alabama, Corporate America Credit Union is a dedicated, not-for-profit financial cooperative governed by a board of directors elected from and by our member-owner credit unions. With nearly 500 credit unions across the nation, we boast a comprehensive list of products and services including investments, liquidity solutions, and correspondent services such as ACH, item processing, and remote deposit capture. Our priority is our members’ future success. Let us pay you a visit – we know a partnership with CACU will be beneficial - (800) 292-6242 or visit www.corpam.org.
About The Clearing House
The Clearing House operates U.S-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and the real-time payments. It is the nation’s most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. Most recently, The Clearing House has revolutionized U.S. payments infrastructure with the RTP network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers. Learn more at www.theclearinghouse.org.Learn more at www.theclearinghouse.org.