Automated Clearing House (ACH)

Automated Clearing House (ACH) service allows members to receive ACH transactions, such as payroll direct deposits, automated pension or social security disbursements, income tax refunds, and checkless point‐of‐ purchase (POP) payments.

MEMBER BENEFITS • Receive electronic credit/debit transactions directly to savings, share draft, and loan accounts • Use of funds that are automatically credited, whether on vacation or ill, when there’s not an opportunity to deposit a physical check • Avoid late fee assessments because there wasn’t an opportunity to make a check payment

CREDIT UNION BENEFITS • Reduced handling and processing of over‐the‐counter deposits and loan payments • Reduced deposit check processing service charges • Reduced share draft processing service charges • Expedited funds availability, resulting in fewer check‐holds to be maintained • Improved collections, decreased delinquencies

Catalyst Corporate will “intercept” your ACH Receipt files from FRB and pass them through to your credit union, or to your data processing service bureau. Catalyst’s ACH Intercept service prevents credit unions from having to establish and maintain their own online connection with the Federal Reserve Bank.

Catalyst cooperatively serves multiple credit unions by maintaining the necessary FedLine® connection, which saves each credit union close to $400 per month plus set up fees. Credit unions receive their ACH posting data in National ACH Association (NACHA) format through: • secure download via TranZact™ • secure FTP mailbox

Credit unions have the option to receive the four individual daily files, as released by FRB, or may choose to have Catalyst warehouse the first three files and receive a single, consolidated ACH file once the fourth is released by FRB. Having Catalyst warehouse and consolidate files into one can reduce the credit union’s ACH operations by 75%.

ACH returns and notices‐of‐change (NOCs) are easily processed through TranZact with minimal effort.

Directing the ACH Settlement through credit union’s settlement account at Catalyst Corporate will simplify daily reconciliation and eliminate cash management between multiple account relationships.

ACH Origination service, also available from Catalyst Corporate, will enable your credit unions to initiate one‐time and recurring ACH transactions, helping to significantly automate your credit union’s loan payments as well as better service your business account members and SEGs.

For more information, contact your corporate account executive at 800-442-5763 or [email protected] .

6801 Parkwood Boulevard | Plano TX 75024 | 800.442.5763 | catalystcorp.org