Corporate America Credit Union Signs with LendingTools.com for Payments Services
Wichita, Kansas - June 25, 2015 - LendingTools.com (LT), innovator of the Correspondent Gateway, the industry's first and leading all-inclusive correspondent payment platform, announced today that Corporate America Credit Union (CACU), based in Irondale, Alabama is deploying LT's correspondent technology suite. CACU will greatly enhance and empower their member credit unions with LT's white-labeled Software-as-a-Service (SaaS).
LT's Correspondent Gateway is modular by design and CACU's initial service set will include: ACH, domestic wires, international payments and vault cash management services along with fully integrated risk monitoring and anomaly detection. CACU's desire to simplify, expedite and stabilize transaction processes led them to LT, a trusted vendor that specializes in treasury management solutions, built and scaled specifically for correspondent financial institutions. LT has been providing proven and reliable technology to financial institutions since 2000.
"We believe LT provides the technology and integrated platform necessary to help us reach our goal of enhancing member relations through service focused solutions," said Lisa Coffey, COO. "Our members want a payment platform that's easy to use, efficient and at the end of the day, works. We believe that LT's intuitive platform will help us provide the reliable, first-class service that our members have come to expect and deserve."
LT's ACH solution combines all origination, receipt, exception management and risk monitoring processes into an intuitive portal streamlining CACU's members' user experience. This portal can also include an additional SEG tier, providing an autonomous credit union branded payments gateway. In order to simplify international payments, CACU will enable LT's FX Gateway which offers real-time rate lock-ins and the required CFPB disclosures for both international wires and IAT's via LT's FedGlobalŽ and third-party interfaces.
LT's Live Wire service allows CACU's member credit unions to leverage LT's FedDirect connectivity with real-time wire transfers and confirmations, while back-end automation can decision transactions for processing or hold them for review, collectively empowering the credit union's back office with instant critical information while helping create more efficient use of time. The Vault Cash solution expands on the portal's efficiency by providing an easy online interface for credit union members to manage their vault cash positions while enforcing each member's district rules.
Jon Budd, Sr. VP of Business Development with LT, states that, "As a company who is keenly focused on this unique market, we are always excited when we can provide technology solutions to a new customer base, but we are especially pleased when we recognize that the relationship is going to improve the work-day for those people accountable for ensuring such time-critical payments on a daily basis for their members. Corporate America Credit Union will be a high-value relationship to both us and their members."
Headquartered in Wichita, KS, LT is the largest third-party provider of inter-bank transaction and reporting systems outside the Federal Reserve serving thousands of institutions nationwide. LT demonstrates strength, vision and reliability in serving correspondent financial institutions and their respective user bases. A privately held corporation, LT was founded by and is operated by bankers. Please visit www.LendingTools.com for more information. Please visit www.LendingTools.com for more information.
Founded in 1982 and based in Irondale, Alabama, Corporate America Credit Union is a dedicated, not-for-profit financial cooperative governed by a board of directors elected from and by our member-owner credit unions. Corporate America serves nearly 500 credit unions across the nation and seeks to add value to member credit unions by providing access to a comprehensive list of products and services including investments, liquidity solutions, and correspondent services such as ACH, item processing, and remote deposit capture. Our priority is serving the needs of our member-owners to help ensure their future success. For more information, call (800) 292-6242 or visit www.corpam.org.