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Official Checks

Whether your credit union wants to be fully involved in the day-to-day back-office work for official checks or you prefer us to take the reins, MY CU Services offers two different official check programs.

Corporate Share Drafts

MY CU Services’ corporate share draft program processes drafts on the credit union’s routing and transit number, meaning the credit union is responsible for reconciling your settlement account, liability for loss incurred as the result of fraudulent items, encoding errors, etc.

How Does the Corporate Share Draft Program Work?

Your credit union issues a corporate share draft to disperse loans, withdrawals, etc. MY CU Services receives the credit union’s items and processes them with our daily work. The settlement for the sum of the corporate share drafts is debited from your settlement account, which requires your credit union to maintain sufficient funds within this account.

Postings are completed by approximately 4:30 p.m. ET each business day.

Corporate Share Draft Program Benefits:

  • Credit union earns 100 percent of float accrued from issue date to clear date.
  • Competitive pricing.
  • No hidden charges.
  • Online image retrieval.
  • No monthly maintenance fee.
  • Items processed on credit union’s routing and transit number.

Positive Pay

Through Positive Pay, your credit union can submit issues using Vizo Financial’s routing and transit number and MY CU Services will reconcile the account on your behalf. Every month, the credit union will receive a statement detailing all paid, outstanding and stop payment items in addition to the reporting function that is available any time.

How Does the Positive Pay Program Work?

Your credit union issues official checks to disperse loans, withdrawals, etc. Your credit union submits these issues within the Positive Pay system by 1:30 p.m. ET the next business day. In addition, your organization can edit, pay and place stop payments on issues as needed.

MY CU Services will then process the issues and deduct the daily amount for issues from your credit union’s settlement account.

One of the major components to the Positive Pay system is the credit union decisioning capability. Your credit union can choose to pay or return issues using the Positive Pay system, without having to contact MY CU Services.

Positive Pay Benefits:

  • Competitive pricing.
  • MY CU Services reconciles the Positive Pay account.
  • Items are debited daily upon issue.
  • Monthly statements available in Zephyr.
  • Decisioning by the credit union.
  • Real-time status of items.
  • On-demand reports.
  • Email confirmation of submitted issues.
  • Fraud and duplicate file detection.
  • No charge to view images.
  • Ability to edit outstanding checks.
  • Ability to view issue history.
Money Orders

MY CU Services offers money orders through our Positive Pay system. Your money orders are processed directly through an existing settlement account with low fees and no monthly minimum charge.

Need Checks?

MY CU Services has negotiated special pricing for check printing services through Check Printing Solutions (CPS). If you are interested in enrolling in the CPS program, please email sales@mycuservices.com.

Already Enrolled?

If you are already enrolled in the CPS program, you can log in here: CPS Log-in

Need to Enroll?

If you are interested in enrolling in the CPS program, please email at sales@mycuservices.com.

If your credit union is interested in more information, please contact our sales team at (888) 985-7280 or sales@mycuservices.com.

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