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Share Draft Processing

Credit unions select Catalyst Corporate’s Share Draft Processing for in-clearings because it allows them to use a single source for processing, settlement and liquidity, and offers many built-in efficiencies. As one of the largest payment aggregators for credit unions, Catalyst Corporate has many direct exchange relationships with the nation's largest banks.

Features & Benefits:

  • Catalyst Corporate manages all facets of the direct presentment process for credit unions, including settlement, reconciliation and wire transfer.
  • Turnkey in-clearing processing is combined into a single daily settlement file posted to a credit union's account.
  • Catalyst Corporate performs duplicate item detection at the file and item level to reduce the risk of a credit union member paying an item more than once.
  • Catalyst Corporate staff perfect credit union share drafts in order to minimize exceptions requiring credit union research.
  • Catalyst Corporate performs adjustment resolution on the credit union's behalf, with next-business-day credit/debit to the credit union's account – streamlining reconcilement.
  • Adjustment requests can be submitted and tracked online.
  • Catalyst Corporate provides an estimated settlement report, which is updated throughout the share draft processing day.
  • The credit union receives email notification when its posting file is available.
  • Outgoing returns can be submitted until 5 p.m. Central Time; adds, changes and deletes (with MSR assistance) can be submitted until 5:30 p.m. Central Time.
  • Outgoing return item processing has next business day credit.
  • High quality digital images are archived for seven years, with several options for access:
    • Credit union staff can access images via the TranZact online member portal.
    • The credit union's members can access images through Internet banking and e-statements.
    • Image files may be downloaded from TranZact or received by secure FTP.
  • The service incorporates substantial redundancy and business recovery components.

 

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Overview All Services Payment Services Technology Services Liquidity/Member Credit Services Business Services Additional Services Service Updates Service Support Catalyst Strategic Solutions