Front End Method

Electronic

Extending the services offered under the Remittance Processing Method, the Bill Payment Front End Method offers credit unions a generically branded electronic bill payment system that allows members to submit payments via the internet. This method is designed for credit unions currently offering a home banking system without bill payment capabilities, or those seeking a stand-alone electronic bill payment interface. The Corporate's role is to work behind the scenes handling back-end processing of payments requested. Visit www.mycubpdemo.com for an interactive tour of the Bill Payment Front End.

MY CU® Services' "Front End" can be branded to suit your credit union. This allows MY CU® Services to process requested payments 'behind the scenes", so that the bill payment system you offer to your members is uniquely yours. In addition the system is front end independent. This means it can easily be integrated with products offered by any home banking provider, or it can function as a stand-alone product.

Processing and Settlement

Your members use the system by signing on and scheduling payments at least one day in advance. MY CU® Services will generate a file of bills the next morning to be paid in an ACH format and will either transmit the file to your credit union or make it available for you to download. Once you have verified the funds, payments are sent to the merchants, and your credit union's designated settlement account is debited. This settlement account can be held at the financial institution of your choice.

Quality Control

A step above the status quo. MY CU® Services' EBP high quality standards are what you would expect from a corporate credit union.

MY CU® Services, LLC does not:

•

Hold payments for float income.

•

Submit check and list remittances (the practice of submitting one check to a merchant with a stub containing the names and accounts of several individuals.)

MY CU® Services, LLC does:

•

Include payment information on each check and stub to ensure accurate credit.

•

Mail one payment per check per envelope.

The Difference

While service is key to our success, our uniqueness lies in the fact that we are a credit union system solution for EBP. As a Corporate Credit Union CUSO, we are a member owned institution dedicated to providing the services credit unions need at a price they can afford.

Business Partners

It is MY CU® Services' policy to interface with the internet banking company of your choice. Click the link above for a list of our established business partners.

Pricing

Set-up fees range from a minimum of $2,000 to a maximum of $4,000 depending on options chosen. Set-up pricing may include special offers and is subject to change without notice.

Monthly fees average $4.00 per user (based on an estimate of 8 bills per month per user).

1201 Fulling Mill Road, Middletown, PA 17057 • (800) 622-7494