ACH Services

Credit Union ACH Services Include:

• ACH Origination Service

  CatalystPay’s ACH Origination Service provides member credit unions an efficient way to collect member loan payments from other financial institutions, send payments on behalf of their members, pay their vendors, and originate direct deposit of payroll for select employee groups (SEGs) and business members. CatalystPay’s ACH system, available through its Aptys Solutions CUSO, offers a powerful database management system for credit unions to store information for recurring transactions with a scheduling feature that generates files automatically.

  Features & Benefits:

  • The Internet-based application has intuitive data entry screens and is easy to use.
  • Robust import and export capabilities allow for easy integration with desktop systems.
  • A pass-through feature is available for pre-formatted Nacha files.
  • Incorporated security features protect the credit union and its members.
  • Flexible administration allows the credit union to assign user rights at various levels.
  • A secure message system enables direct communication with Catalyst Corporate ACH experts.
  • Dynamic online help is available for all aspects of the system.
  • Comprehensive training and support are provided for the credit union by Accredited ACH Professionals (AAPs).
  • Catalyst Corporate software is maintained and updated for regulatory compliance. 
  • Robust business recovery practices are in place.

• ACH Receipt Service

  CatalystPay’s ACH Receipt Service provides credit unions with a convenient way to receive ACH posting data. Catalyst Corporate has an online connection with the Federal Reserve Bank. Data exchange occurs on behalf of hundreds of credit unions daily. This saves credit unions the individual expense of maintaining a Fed account, and it removes the administrative tasks required to work directly with the Fed.

  Choosing Catalyst Corporate as the receiving point for ACH posting data streamlines daily operations and reduces costs.

  Features & Benefits:

  • ACH posting data downloads to TranZact to help credit unions avoid the inconvenience of connecting with the Fed. TranZact is Catalyst Corporate’s online account management system.
  • Credit unions also have the option of scheduling delivery of ACH posting files to their secure FTP.
  • Routing ACH data to Catalyst Corporate means TranZact can serve as the credit union’s single point of access for transactions and account information.
  • Return transactions and notices of change (NOCs) are faster and easier with Catalyst Corporate as the ACH receiving point.
  • Instant emails notify credit unions when the posting file is available.
  • Catalyst Corporate provides comprehensive, ongoing training and support.

• Business ACH Origination

  Credit unions with business lending and deposit initiatives offer ACH Origination to their select employee groups (SEGs) and business members to expedite vendor payments, direct deposit of payroll and tax payments.

  Features & Benefits:

  • The Internet-based application has intuitive data entry screens and is easy to use.
  • Robust import and export capabilities allow for simple desktop systems integration.
  • A pass-through feature is available for pre-formatted Nacha files.
  • Incorporated security features protect the credit union and its members.
  • Flexible administration allows credit unions to assign user rights to SEGs and business members at various levels.
  • A secure message system enables direct communication with Catalyst Corporate ACH experts.
  • Dynamic online help is available for all aspects of the system.
  • Comprehensive training and support are provided for the credit union by Accredited ACH Professionals (AAPs).
  • Catalyst Corporate software is maintained and updated for regulatory compliance.
  • Robust business recovery practices are in place.

• ACH Contingency Support

  Catalyst Corporate can fulfill the role of an on-demand back-up ACH processor in the event a credit union encounters service disruptions through its existing ACH service provider. 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 ACH files through its Fedline, the credit union has the option of contacting Catalyst Corporate and the Federal Reserve Bank to have its ACH files redirected to Catalyst Corporate.
  • Through TranZact, the credit union can download its ACH files in Nacha format, then upload the files to its core system.
  • ACH origination files also can be uploaded through Catalyst Corporate during a contingency situation.
  • Completing agreements in advance ensures a timely transition in the event of an emergency.
  • This service meets FFIEC requirements for ACH contingency planning.

• International ACH Service

  Credit unions can provide their members with low-cost remittances to Mexico and Canada through Catalyst Corporate’s International ACH Origination Service.*

  Many credit union select employee groups (SEGs) are located in other countries or have employees living abroad. Credit unions can send payroll, loan proceeds and other payments securely, predictably and at minimal cost through the ACH system.

  Features & Benefits:

  • International ACH is a cost-effective alternative to international wire transfers.
  • Transactions are originated in and settled in U.S. dollars.
  • No fees are deducted from the payment in the receiving country.
  • Competitive exchange rates are available on the Federal Reserve Bank’s website daily.
  • Transactions are in Nacha format.
  • The Federal Reserve Bank's international counterparts convert the items to the receiving country's format.
  • Participants in Catalyst Corporate's International ACH service may use the Federal Reserve Bank's “Formatting Aid” to generate member disclosures that support compliance with regulations found in Section 1073 of the Dodd-Frank Wall Street Consumer Finance and Reform Act.
  • Generally, transactions settle in the receiving country within two business days.

  *Contact Catalyst Corporate regarding ACH transactions to additional countries.

Optional ACH Services

CatalystPay has optional ACH services that can be added depending on individual needs. Each of these services is built onto CatalystPay to address:

• Client Access Business ACH Origination

  • Direct access to the CatalystPay's ACH system for select employee groups/member businesses to originate their own ACH files (credit unions can originate on their behalf at no additional charge).

• ACH Warehousing

  • Warehouse outgoing items for a configurable number of days
  • Automatic routing of items based on effective entry date
  • Reporting and reconciliation of warehoused items
  • Ability to hold or stop warehoused batches

• Anomaly Detection

  • Transaction amount, batch total and batch count
  • Account number and RT change
  • Configurable settings for acceptable ranges

• Credit Risk Monitoring

  • Unauthorized returns tracking and reporting as required by Nacha rules
  • Daily, batch, transaction and credit exposure limit management
  • Rolling exposure tracking and reporting
  • Offset creation functionality

• Active Archive

  • Nacha file, batch and item storage
  • Ability to derive returns, NOCs, templates and new transactions
  • Ability to create and store ACH simple and advanced queries
  • ACH data exports (PDF, Excel, CSV)

• Domestic OFAC Checking

  • Check outgoing and incoming transactions
  • Flag and view details for suspect transactions
  • Decision and comment on transactions

• International OFAC Checking

  • Check outgoing and incoming transactions
  • Flag and view details for suspect transactions
  • Decision and comment on transactions