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 ACH Services These services provide member credit unions with the opportunity to use Midwest Corporate Federal Credit Union for settlement services, receipt of ACH detail files, and the origination/return of ACH items through our APEX-ACH service. Cash Concentration This service allows members to utilize a local financial institution to make deposits, then transfer excess balances to Midwest Corporate Federal Credit Union for higher overnight returns. Check Collection / Remote Branch Capture Midwest Corporate Federal Credit Union's solution insures the lowest cost possible for deposits. Our Remote Branch Capture (RBC) service brings the advantages of Check 21 technology to credit unions at an affordable price. The effecincies gained, the lower deposit costs, and the quicker deposit credit all lead to expense savings and improved income from earned interest. Our per item costs for RBC deposits are as low as 1.1 cents. Even our paper check deposit program is only 3 to 7 cents per item. Coin & Currency This service provides members with an easy way to order cash and sell back excess cash. Corporate Connection This is an Internet-based service that allows members to access account information, retrieve prior statements of account, and transfer funds via a secure Internet connection. Corporate Share Drafts This service allows members to write official/teller checks against Midwest Corporate Federal Credit Union’s account at the Federal Reserve Bank. Credit Union-to-Credit Union Transfers This service facilitates the movement of funds between Midwest Corporate Federal Credit Union members. Foreign Currency This program provides members a way to order or redeem foreign currency (i.e., Canadian dollars, Mexican pesos, etc.). Member Loan Participation Transfers Midwest Corporate Federal Credit Union facilitates the transfer of funds among members and between members and the Bank of North Dakota. Electronic Bill Payment (eBP) This product allows member credit unions to offer a comprehensive electronic bill payment Internet solution to its members. The service is turn-key and requires no special hardware or software. Reverse Repurchase Agreements This service provides members with an opportunity to provide short-term liquidity by borrowing against an investment security. (The security needs to be in the Midwest Corporate Federal Credit Union safekeeping program, or delivered to that program, prior to the transaction.) Savings Bonds This service expedites the ordering and redemption of U.S. Savings Bonds for our members. Security Settlement & Safekeeping This program allows members to settle funds used to purchase or sell an investment security, such as a U.S. Treasury Notes. It also allows members to hold these securities in safekeeping at a low cost without the fear that a broker could use the security without the member’s knowledge. This service cannot be used for natural person transactions. Treasury, Tax, & Loan Program (TT&L) Under this program, member credit unions accept TT&L deposits from their members and forward the TT&L receipt to NDCCU for proper payment. Wire Transfers This service allows member credit unions to transfer funds for themselves or their members to other U.S. and foreign financial institutions. |