Settlements for all services post to a single interest-bearing transaction account, Catalyst's Cash Management Fund.
As a benefit to its members, Catalyst allows credit union accounts to go into a daylight overdraft position during the day, without penalty, if the credit union has sufficient availability on its line of credit. This convenience provides uninterrupted processing of transactions throughout the day.
Catalyst accepts all correspondent settlements from the Federal Reserve Bank. Catalyst also accepts auto-settlements from more than 55 credit union-related national originator settlement points, representing more than 155 settlement types. Using these options,
Catalyst Corporate member credit unions can take advantage of a low-cost, efficient payment process to settle daily, weekly, monthly and annual settlement activity.
To put this service to work for your credit union, email an account executive at email@example.com or call 800.442.5763.
Cash Concentration/Automatic Transfer
Corporate Share Drafts