Corporate One Federal Credit Union said that its funding agent service is now available for CUs on The Clearing House’s real-time payments (RTP) network.
Corporate One Federal Credit Union, a wholesale provider of financial services for credit unions (CUs), said that its funding agent service is now available for CUs on The Clearing House’s real-time payments (RTP) network. The service allows for around-the-clock funding management for these CUs, according to a Tuesday (April 13) announcement.
Corporate One’s service will handle RTP network funding and liquidity for CUs when they become a part of the RTP network and set Corporate One as their funding agent provider. The service will also offer mandated, pre-funded balances for the credit union; track and control balances, including responding to position alerts; and provide daily reconciliation reports.
“Our Funding Agent Service has been designed to support credit union adoption of instant payments by offering a 24/7/365 liquidity and settlement management service that eases the operational challenges many credit unions may face when wanting to offer around-the-clock payment solutions,” Corporate One President/CEO Melissa Ashley said in the announcement.
Read more: https://www.pymnts.com/credit-unions/2021/corporate-one-funding-management-service-live-on-rtp-network/