An advance against the Standard or Performance Settlement Lines of Credit is obtained through Catalyst Corporate’s TranZact system. An authorized credit union employee can process a loan advance using TranZact or by contacting a Catalyst Corporate Member Service Representative at 800.442.5763, option 1. Loan proceeds are deposited into the credit union's Cash Management Account. If a credit union's transaction account becomes negative at the end of the day's processing due to automated settlement transactions or wire transfers, an amount sufficient to bring the balance in the account to zero will automatically advance from the credit union’s line(s) of credit.
An advance against an Advantage Line of Credit is obtained by a member credit union using the TranZact system. Advances from this credit line are not tied to a member's settlement activity.
Catalyst Corporate is not obligated to make any advances under a credit union's line(s) of credit. Any advance is subject to Catalyst Corporate having funds available to make such advance.