IRONDALE, Ala. & NEW YORK--(BUSINESS WIRE)--Corporate America Credit Union (CACU), serving nearly 500 credit unions nationally, is now a Funding Agent for the RTP® network, the real-time payments network operated by The Clearing House (TCH). CACU will play an integral role in providing members access to faster payments on the RTP® network.
As a Funding Agent, CACU will allow member credit unions to efficiently manage their liquidity on the network at a lower cost and will fund and manage positions in the RTP Network’s joint Federal Reserve bank account on behalf of its members. CACU will be able to facilitate the settlement and 24/7 liquidity management for its credit unions in the RTP network.
The announcement comes as CACU continues to work on behalf of its credit union member-owners to ensure they continue to thrive. Chief Innovation Officer Lisa Coffey says this is just the first of many projects to keep CACU members on the cutting edge of faster payments. “Access to the RTP network is key for our member credit unions wanting to serve their members with the most up to date technology. By becoming a Funding Agent, CACU is now a partner that can make that process easier.”