Payment Systems

Save 20 Percent Off Start-Up Fees for Purchasing Card Program
Take advantage of an efficiency building purchasing card and technology program that delivers an unprecedented level of control and workflow automation--tailored for your purchasing policies and business rules.

Purchase One integrates with your financial systems and will help you:

Earn up to 100 bps rebate based on total Purchase One spend
Streamline purchasing and A/P processes (average cost savings per transaction = 76 percent!)
Optimize cash flow - increase float on capital by up to 35 days
Improve purchasing and spending controls
Leverage card-spend data to negotiate vendor discounts
Sharpen management visibility into spending activity

Through our partnership with PROCURA, LLC, Purchase One is the most advanced web-based commercial card program management solution available today for procurement, travel and accounts payable transactions – created by credit unions for credit unions.

If you sign up before December 15, you can receive 20 percent off implementation fees! Please e-mail Amanda LoBiondo to get started.

Ring in the New Year with lowered expenses with ARC Lockbox services
Ring in the New Year with lowered expenses with ARC Lockbox services. It’s simple…and can save you a bundle.

Accounts Receivable Conversion (ARC) is a process where retail lockbox paper checks are converted into ACH for electronic clearing. If you have consumer loan payments mailed to a central office for manual processing, then you could be losing critical time on your funds availability and ongoing staff support.

Paper check collection is going up in price effective January 1, and by electing ARC conversion, you will save up to a nickel per item over traditional paper processing of lockbox items.

As an enhancement to our existing Lockbox Services, we will be launching the ARC component for processing remittance payments on January 2, 2009. We have also created ARC reports that you can download from WAVE that show all of your lockbox items converted to ARC and those processed as paper, with summary totals on a daily basis. If you are already a lockbox participant, then all you have to do is let us know that you want to be an ARC participant.

By leveraging this technology to process your consumer loan payments through ARC, you can take advantage of the efficiencies and cost savings in this climate where every measure taken towards profitability is a big win.

To speak to a Member Services Representative, call (800) 442-4366, ext. 6453.