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A Corporate Central Credit Union checking account allows you to pay your credit union’s bills and make member disbursements with checks drawn on your own interest earning Plateau/Premier Account. A detailed listing of all checks that clear your Plateau/Premier Account are visible through Corporate CAFÉ. In addition, stop payment orders, copy requests, and images of cleared checks can be viewed through Corporate CAFÉ. Corporate Checking also comes with the following convenient options:
Corporate Checking Plus
With Corporate Checking Plus, your credit union will receive a monthly CD filled with images of your cleared checks, front and back. This option allows you to research items using viewing software that provides indexing capabilities for quick look-up of your long-term storage items.
Automated Reconciliation
Automated reconciliation is automatically available to all Corporate Checking users and is designed to simplify your reconciliation process. Cleared check information can be easily downloaded from Corporate CAFÉ and imported into your in-house reconciliation program.
In addition to having your credit union’s checking account at Corporate Central Credit Union, you also have the flexibility to offer a wide range of product variations to meet all your credit union’s checking needs. Each of the following enhancements comes with the same features and functionality as Corporate Checking; and all are conveniently managed through Corporate CAFÉ. Enhancements to the Corporate Checking program include:
Cashier’s Checks
A cashier’s check is considered ‘accepted’ when issued and therefore it is actually a promissory note of the credit union. Cashier’s checks should be treated with the same care as cash, since the funds are considered guaranteed. Non-payment of a cashier’s check (such as a stop payment) could carry legal consequences for the credit union.
Certified Checks
A certified check is a check that the issuing credit union has ‘certified’ to the payee that funds have been set aside to pay the item. Non-payment of a certified check could carry legal consequences for the credit union.
Money Orders
Money orders can be written against your Plateau/Premier Account with the same advantages as corporate checks. The corporate money order program does not set maximum dollar limits for money orders; however, your credit union may set limits per your own policies. Money orders are also truncated, so you must maintain a copy for your records. Blank money orders should be carefully secured; non-payment of a credit union money order (such as a stop payment) could carry legal consequences for the credit union.
Corporate Checking services are designed to simplify and improve the management of your credit union’s checking account and checking services. All the checking services carry the same time-saving benefits:
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All items clear through your interest paying Plateau/Premier Account
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All items are imaged and archived for convenient access through Corporate CAFÉ 24x7
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All cleared items can be downloaded from Corporate CAFÉ for automated reconciliation
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A wide variety of enhancements – cashier’s checks, certified checks, and money orders are available and accessible through Corporate CAFÉ
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All items can be delivered via CD for convenient retrieval and long-term retention
For more information regarding Corporate Checking services, please contact a Relationship Development Officer. |