REGISTER FOR WEBINAR EXPLAINING WHAT THIS MEANS AND WHAT CACU IS DOING!
CACU has successfully received a payment internally to verify its readiness to receive payments on behalf of its member credit unions.
As a participant on the RTP® network, CACU can receive credit transfers in real time and post immediately to their 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.
CACU also serves as a funding agent for its members, meaning Corporate America will be able to fund and manage positions in the RTP network joint account on behalf of its members, which will allow them to facilitate their member’s direct participation on the RTP network.
Collaboration with members drives the priorities of new services at CACU, and Chief Innovation Officer Lisa Coffey says this is just the first of many projects to keep their 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. Being able to receive payments 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.”
Corporate America President/CEO Pete Pritts says the team continues to work on behalf of its members. “We are so thrilled to be able to partner with TCH and 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.”