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Wire Contingency Support

Catalyst Corporate can fulfill the role of an on-demand back-up wire transfer processor in the event a credit union encounters wire service disruptions through the Federal Reserve Bank. A credit union simply needs to complete the appropriate agreements with Catalyst Corporate and the Federal Reserve Bank.

Features & Benefits:

  • In a contingency situation that prevents a credit union from retrieving incoming wires through the Federal Reserve Bank, the credit union has the option of contacting Catalyst Corporate and the Federal Reserve Bank to have its wires redirected to Catalyst Corporate.
  • The credit union is then able to view its wire transactions in TranZact and post wires manually to its core system.
  • Outgoing wires also can be sent through Catalyst Corporate during a contingency situation.
  • Completing agreements in advance ensures a more timely transition in the event of an emergency. For outgoing wires, the credit union will need to set up users in TranZact.
  • Establishing a back-up wire service ensures your members’ wire needs are met if wire service through the Federal Reserve Bank is disabled.

 

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Overview All Services Payment Services Technology Services Liquidity/Member Credit Services Business Services Additional Services Service Updates Service Support Catalyst Strategic Solutions