ACH Payments has recently focused its efforts on credit unions as part of an effort to develop services geared towards the needs of the institutions and the industry.
“While needs vary a bit amongst credit unions, a few things stood out to us that presented an opportunity for a mutually beneficial approach in serving the credit union market space,” ACH CEO Wayne Akey said.
Many credit unions offer ACH services to business customers in order to remain competitive, but offering the services leads to additional customer support and service costs that generate losses for the institution.
“It’s difficult for credit unions to ascertain exactly what the soft costs are for providing these ACH services to their customers, but in discussions with a recently acquired credit union partner it became clear that they had to move to a more efficient method of providing the services to their business customers,” Akey said. “Our facilitation of ACH services for credit unions has not only reduced burdens and costs, it has presented them with a solution that enhances their bottom-line from sharing of revenues created.”
ACH provides a number of services and tools to all business customers, ranging from virtual terminals and POS solutions to fraud detection and batch file transmission utilities. All transactions are processed through PCI Level 1-certified infrastructure.
“Our focus has always been on vertical partnerships, and we believe the credit union space will play a significant role in the future of our company,” Akey said.