Remittance processing is the root of MY CU® Services' bill payment services. At this level, MY CU® Services operates in the background to process payment of bills for your members. It's a perfect alternative for credit unions who wish to use the internet banking provider of their choice or those already offering a home banking system with bill pay capabilities, but are seeking a credit union source for back-end processing.

Processing and Settlement

Every night, MY CU® Services, LLC will receive a file of payments to be processed the following business day. This file will be received from the internet banking system your credit union uses for bill payment, and may contain verified funds payments or files for which members' accounts have not yet been debited. Once payments are sent to the merchants, your credit union's designated settlement account is debited. This settlement account can be held at the institution of your choice.

If your home banking system does not pre-debit your member accounts, MY CU® Services will generate a debit file to be paid in an ACH format which can either be transmitted to your credit union or can be available for you to download.

The Difference

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

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.

If your credit union is interested in more information on MY CU® Services Bill Payment program, please Click Here to view our product demos or contact Jaime Agostino at 888-985-7280 extension 3906, or by email at jagostino@mycuservices.com.