CU news Logo

 Your source for the latest technology information of interest to credit unions across America.

Subscribe to our weekly e-mail newsletter and/or our monthly newsletter and stay on top of the latest technology trends in Hardware, Software, ATMs, Biometrics, Wireless, Online Banking, Marketing, Security, Internet Access and Call Centers.

Members First Credit Union

Members First Credit Union is a community charted credit union based in Madison, WI. The $18M asset credit union has nearly 3000 members in the Madison area, as well spread out across the country. In order to make it easier for their members to make loan payments, Members First Credit Union turned to one of the nation’s leading provider of e-telligent payment processing solutions: ACH Payments.

Karen Millar, Vice President at Members First Credit Union, has found that working with ACH Payments “has been a huge aid in our collections efforts.” She should know – Millar has 27 years of overall collections experience and 12 years at Members First Credit Union! Members simply need two items on hand: their paying institution’s routing number and their account. With this information supplied to the call center representative, the money is electronically moved to the credit union to make the member’s loan payment. Millar notes that “this payment method is truly hassle free for our members and it eases our collections efforts considerably.”

In order to collect the auto, personal, mortgage, or any other type of loan, Members First Credit Union employees simply login to a secure website that ACH Payments has setup for the credit union. The system accepts one time payments, or members can be setup for convenient recurring payments. In either scenario, the costs are very low for the credit union and quite affordable for the member. The funds move through the ACH network and arrive at the credit union the next business day. Millar says “the system is very user friendly for our staff. We love that we can search by last name and that it stores the member’s profile for us.” She adds that “the more automated the better, and ACH Payments has really helped us automate our collections efforts.”

Every system, no matter how simple it may be to use, requires customer and technical support. According to Millar, “ACH Payments has always provided us with excellent technical support over the many years that we have worked with them. Plus, they are always well staffed and knowledgeable.” With delinquencies down and automation up, everyone at the credit union is pleased with how payment processing costs are reduced and cash flow improved. Millar concludes that “working with ACH Payments has been a great experience because they are trustworthy and always follow through for us. I highly recommend them to other credit unions looking for an easy and economical way to accept member payments by phone.”

Get Our Free Email Newsletter

First Name(*)
Invalid Input

Last Name(*)
Invalid Input

Position(*)
Invalid Input

E-Mail(*)
Invalid Email Address