News & Announcements

CACU Becomes Funding Agent for Real Time Payments Network

Posted on December 3, 2019

As a Funding Agent, CACU will allow member credit unions to efficiently manage their liquidity on the network at a lower cost and will fund and manage positions in the RTP Network’s joint Federal Reserve bank account on behalf of its members. CACU will be able to facilitate the settlement and 24/7 liquidity management for its credit unions in the RTP network.


The announcement comes as CACU continues to work on behalf of its credit union member-owners to ensure they continue to thrive. Chief Innovation Officer Lisa Coffey says this is just the first of many projects to keep CACU 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. By becoming a Funding Agent, CACU is now a partner that can make that process easier.”


CACU has partnered with VSoft Corporation to take advantage of its expertise with faster payments. VSoft Corporation will empower CACU to offer robust and feature rich solutions to its member credit unions that will facilitate the sending and receiving of faster payments. CACU and VSoft Corporation are committed to providing products that are both efficient and cost-effective.


Corporate America President/CEO Pete Pritts says the benefits of the new partnerships are countless. “As we look to the future, we see the RTP network as the next piece of the puzzle to bring faster payments to the newer world we see. We are privileged to offer this service to our members and are excited to be pioneers in this next chapter of payments.”


“CACU has a strong reputation for providing leading-edge services to its credit union members,” says Tim Mills, Vice President of RTP Network Business Development. “We are excited that CACU is helping to bring the benefits of real-time payments on the RTP network to its approximately 500 clients by becoming a funding agent.”

CACU Forms New Partnership to Aid with Cybersecurity

Posted on October 4, 2019

ThreatAdvice offers an online platform where credit union staff can easily educate themselves - in fact, Corporate America is now arming its own staff with the training.  “You can never be too safe when it comes to informing your staff about scams and attacks that can harm an institution,” said CACU Chief Technology Officer Donald Eagen.  “We chose to partner with ThreatAdvice because we feel their platform offers ease of use and comprehensive awareness so our employees understand the risks businesses face.  We want to give our staff as much knowledge as possible.”

ThreatAdvice also assesses your organization’s weaknesses using various tools including phishing simulations, network exposure scans, email exposure scans and more. Additionally you have the ability to receive alerts on situations that directly threaten your organization or industry in real-time. Stay ahead of potential threats and become more proactive, more effective and more strategic about defenses.

The solution will be offered to all CACU members, nearly 500 across the country.  ThreatAdvice says that cost of data breaches continues to rise and that the financial industry remains a top target for cyberattacks. “We are pleased to partner with CACU to offer cyber education and awareness to its member employees.  It is imperative to have both proper technology oversight and educated users to fight back against cyber-attacks,” said Jason Asbury, President of ThreatAdvice.

CACU Waives Fees, Gives Bonus Dividend for Member Credit Unions

Posted on June 24, 2019

At the end of 2018, Corporate America gave members a 50-basis point bonus dividend on all Perpetual Contributed Capital accounts for the year 2018, waived December service fees, and paid FRB pass through charges that settle to members’ CACU accounts on their behalf.

The positive response from member credit unions was enthusiastic and widespread from across the country.

“I have worked in the Credit Union industry for 26 years and this is the first time (at least that I can remember) that I have seen anything like this,” said Darryn Hodgson, CFO at Members First Credit Union.  “It is so refreshing to have a business partner that is willing to make decisions like this to show their Members/Partners that they care.”

Corporate America was so excited about their members’ response, they decided to do it again, calling it The Big Give-Back Part 2.

“We’ve had a strong first half of 2019, thanks to our amazing members and their continued support.” said Corporate America President & CEO Pete Pritts. “As a corporate credit union, our primary mission is to ease burdens so our members thrive.  So, doing the ‘give back’ again was an easy decision.”

For The Big Give-Back Part 2, Corporate America is waiving June service fees, paying FRB pass through charges that settle to their members’ CACU accounts, and giving members a 50-basis point bonus dividend on all Perpetual Contributed Capital accounts.

“This is what credit unions do,” Pritts continued, “We give back. We give back to our members. They give back to their members and employees…the whole community benefits. Giving back is our mission, our goal, and our greatest reward.”

New partnership helps members with essential print and eStatement delivery services

Posted on June 3, 2019

Benefits include:
• Budget friendly
• Improved look & feel
• Target marketing capability
• Electronic presentment creates efficiencies
• Reduced page count
• Existing templates or custom formatting

Whether it’s print or eStatements, Diamond integrates with all core processors to create a quality product while increasing strategic marketing potential.  Target marketing is also an option for credit unions wanting to increase opportunities to its members.  Through this partnership CACU members can make the most of their key communications while protecting their members’ privacy.


Other services offered to credit unions through Diamond include:
•          Statements (member, credit card, mortgage, and HELOC)
•          Daily Notices
•          Loan Coupons
•          1098/1099/5498/1042-S Statements
•          Marketing Communications
 

Contact CACU at services@corpam.org for more information or call 1.800.292.6242.

Alabama Corporate Credit Union Brings Analytics to its Members

Posted on January 10, 2019

Credit Union Times

- By Roy Urrico

Irondale, Ala.-based Corporate America Credit Union and Salt Lake City-based Visible Equity joined forces to offer CACU’s members a current expected credit loss solution through Visible Equity’s analytics software.

The corporate credit union did extensive research on partners, “We know without robust, solid data analytics you can’t implement the most effective CECL process.  Visible Equity’s software is top of the line and we know our members will benefit,” Trey Rudder, vice president of strategic balance sheet management said. He added, CACU, with almost 500 members, wanted the best option for its connections.

CACU members have access to all Visible Equity’s products including deposit, fair lending, customer/marketing, peer and application analytics.

With over 725 existing credit union clients, Visible Equity said it has many others products useful to financial institution and strives to make the analytics process as simple as possible.  “Our clients view us as an extension of their team.  We work closely with each institution to ensure that data is implemented quickly and accurately and provides them with the tools and insight to effectively identify, measure and manage the risk in their loan portfolio,” Derrick Wiemer, chief information officer/COO, said.