MY CU Services, through our partner, Advanced Fraud Solutions (AFS), provides batch fraud detection for credit unions that utilize our image capture solutions. This service offers a suite of solutions for credit unions to fight fraud through multiple sources including checks, debit/credit cards and online banking.
ACH Files & Returns streamlines the way your credit union receives ACH files. It does not require you to load or maintain software at your credit union. Your credit union has the power to determine whether you wish to process multiple ACH files from the Federal Reserve throughout the day, or combine the various presentments into one file for posting in your host system. In addition, credit unions can have their vendor pick up files via secure SFTP.
ACH origination functions occur through an online platform. There is no software to load on your computers and/or maintain in your office. The origination system allows your credit union to set up one-time and/or recurring ACH transactions. All standard ACH formats are supported. MY CU Services handles all software upgrades, including NACHA Rules-related updates to assist with your credit union’s compliance to the ACH rules.
MY CU Services offers ATM capture services, allowing credit unions to capture check deposits at their image- enabled ATMs. The images will be sent directly to MY CU Services for processing and collection.
MY CU Services allows credit unions to order cash from various vault locations across the country, make coin and currency deposits and order special U.S. mint coins. The program also features no denomination requirements, reducing the amount of excess cash in your credit union’s vault.
MY CU Services' Electronic Bill Payment service is designed for credit unions offering a homebanking solution without bill payment capabilities, or for credit unions seeking a stand-alone bill payment interface. Our solution offers the functionality demanded for consumers and small businesses. MY CU Services’ EBP solution comes with access to turnkey marketing materials and a resource center for easy member promotion and education, and integrates with the Mobile Pay application.
MY CU Services' Foreign Collection program lets you compete with bigger banks by allowing your members to deposit foreign checks with your credit union as opposed to going to a bank.
Through MY CU Services' partnership with Travelex, credit unions have access to an online currency system that provides instant web access for the teller-line user, offering a streamlined ordering process for your traveling members in fewer than 90 seconds.
So whether your member wants their currency loaded onto a prepaid card or prefer to receive it as traditional cash, this program can meet their needs.
The best part?
As part of this program, your credit union will earn a flat one percent revenue share on all foreign currency sales/purchases and multi-currency cash passport prepaid MasterCard sales.
MY CU Services offers the ability to transfer funds from your credit union to another financial institution across international boundaries with our International Wires platform. Funds can be sent in U.S. dollars or foreign currency and exchange rates are available on our online system.
Lockbox operations by MY CU Services provides secure, browser-based payment processing with straight-through processing and image cash letter support. Quickly validate your incoming payments and reduce time required for processing and exception handling.
Mobile capture integrations enable your credit union members to make deposits using their smartphones and tablets. Mobile capture is available with MY CU Services’ Mobile Pay or other mobile banking apps.
MY CU Services offers Money Orders through our Positive Pay system. Your Money Orders are processed directly through your existing settlement account with low fees and no monthly minimum charge.
Whether your credit union wants to be fully involved in the day-to-day back office work for official checks or you prefer us to take the reins, MY CU Services offers two different official check programs:
Corporate Share Drafts
MY CU Services’ Corporate Share Draft program processes drafts on the credit union’s routing and transit number, meaning the credit union is responsible for reconciling the settlement account, liability for loss incurred as the result of fraudulent items, encoding errors, etc.
The Positive Pay program processes drafts on its own routing and transit number, meaning MY CU Services reconciles the Positive Pay account for the credit union. E-statements detailing all paid, outstanding and stop payment items are available each month through Zephyr, or the credit union can download and view on-demand reports any time through the Positive Pay system.
Our Remote Branch Capture (RBC) and Deposit product offers credit unions a cost-effective and efficient way to comprehensively capture check images, and send those images electronically for processing.
MY CU Services will provide forward collection of captured images. These items are sorted and forwarded on behalf of the credit union, utilizing our low cost routing technology.
Businesses have many options when it comes to financial services. To stand out from the crowd, consider adding a product that provides convenience. And there is nothing more convenient for a business than depositing checks without having to visit a local branch. With MY CU Services’ Remote Merchant Capture product, your business members can deposit checks directly into the credit union right from the office.
Similar to RBC, Remote Teller Capture takes convenience a step further. Instead of scanning several batches throughout the day or waiting to scan all checks at the end of the day, this capture program allows your teller to scan the check as it’s presented. Remote Teller Capture will interface with the credit union’s core processor at each teller workstation when coupled with their receipt manager product to allow check images to be transmitted in real-time to MY CU Services.
Vizo Financial can process U.S. savings bonds for member credit unions. Members who participate in this service must be a paying agent of the United States Treasury for the sale and redemption of savings bonds. Credit unions forward the items to Vizo Financial for encoding, and the Corporate will forward credit to the member once it is received from the Federal Reserve Bank.
MY CU Services’ member share draft processing program offers straightforward, competitive processing fees with no hidden costs. All necessary data is captured from the draft and a unique sequence number is assigned to each item. A data file will be created and made available for your credit union or data processor to download. In addition, your credit union’s homebanking provider has the ability to tie their system to MY CU Services’ image archive.
MY CU Services’ Quick Cash service through Western Union allows credit unions to transfer funds to, or on behalf of, their members.
Vizo Financial offers wire transfers to move funds between institutions. Credit unions can wire funds to and from a financial institution for deposit at the Corporate or the institution of their choice.