IRONDALE, Ala.–Corporate America Credit Union (CACU) is reporting it is now a certified participant on the RTP network, the real-timepayments network operated by The Clearing House (TCH).
CACU said it has successfully received a payment internally to verify its readiness to receivepayments on behalf of its member credit unions.
As a participant on the RTP network, CACU noted it can receive credit transfers in real time and postimmediately to 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, the corporate stated.
CACU said it also serves as a funding agent for its members, meaning it will be able to fund and manage positions in the RTP network joint account on behalf of its members, which will allow them to facilitatetheir member’s direct participation on the RTP network.
‘Access is Key’
“Access to the RTP network is key for our member credit unions wanting to serve their members withthe most up to date technology,: said Chief Innovation Officer Lisa Coffey. “Being able to receivepayments 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.”
Added Corporate America President/CEO Pete Pritts, “We are so thrilled to be able to partner with TCHand 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.