Dear Members:

The evolution of the financial landscape toward faster and real-time payments has forever changed the way consumers conduct transactions, interact with financial institutions, and think about banking in general. So much change at such a frantic pace can feel somewhat daunting. Fortunately, Corporate One anticipated the trend toward faster and real-time payments many years ago, and we have worked diligently over the last several years to position ourselves as a credit union leader in this space, expanding our expertise, developing key partnerships, and growing our understanding of the technology involved.

As we continue our progress, I’m excited to report that we recently took advantage of a tremendous opportunity to progress toward our overall vision of providing a world-class cash management system to our members by becoming a Funding Agent for credit unions on The Clearing House’s (TCH) RTP® Network. Becoming a Funding Agent is a critical step in our effort to build a 24/7/365 liquidity management solution for RTP transactions, and we are currently the first credit union-specific provider to offer this service.

As you may already know, the U.S. hasn’t had a new payments rail in more than four decades, and TCH’s RTP network is the first to deliver 24/7 clearing and interbank settlement. This includes the real-time authorization, posting, and settlement of money and enriched data between participating financial institutions. As a Funding Agent, Corporate One will fund and manage positions in the RTP Network’s joint Federal Reserve bank account on behalf of our members. What this means for you, our members, is that Corporate One will be able to facilitate the settlement and 24/7/365 liquidity management of our members’ RTP network participation, which could be overly burdensome to administer individually.

As a trusted payments provider and liquidity management partner to credit unions for the past 70 years, it has long been part of our mission to help credit unions serve their members with payments. Based on our history and service, we believe Corporate One’s evolution into supporting our member credit unions’ access to and management of real-time payments is a natural one. We are excited to start providing a necessary payments tool for settlement and liquidity management of RTP transactions, which will be needed to stay competitive and relevant in the ever-evolving payments space.

Best,