CU*Answers has scheduled the release for March 16 for the final phase to comply with NACHA’s Same Day ACH rules. Phase 3 requires that same-day credits must be posted by 5:00 p.m. credit union time. There will be changes to the timing of the existing ACH postings for the ‘morning’, ‘mid-day’ and ‘evening’ batch postings and instructions were given to credit union to insure their ‘mid-day’ posting configuration include posting credits.
“Giving our clients the ability to configure their own posting settings has set this compliance requirement easy to implement,” said Brian Maurer, EVP of Programming. Posting same day credits for members is another tool to ensure member accounts receive the benefits of electronic posting on a more-timely basis.
About the Partner
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 40+ years ago, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 1.8 million members and $17 billion in credit union assets. For more information, visit cuanswers.com.
Representing a network of credit union owned CUSOs that have developed a capability for serving members in a whole new way, cuasterisk.com leverages the power and effectiveness of a collaborative network of business partners committed to coming together to provide credit unions a variety of popular services at competitive CUSO prices. The footprint of this network reaches over 600 credit unions nationwide and is designed to provide credit unions the opportunity to roll out new services faster to market and at a lower cost.