The RTP network , the real-time payments system from The Clearing House (TCH), was launched in 2017 and is the first new core payments infrastructure in the U.S. in more than 40 years. Real-time payments over the RTP network provide consumers and businesses with the ability to conveniently send payments directly from their accounts at federally insured depository institutions 24/7/365 and to receive and access funds sent to them over the RTP network immediately.
TCH established the RTP Business Committee to govern the RTP network. The RTP Business Committee meets monthly and has responsibilities, including providing input and guidance on the strategic execution of the RTP network, ensuring prudent risk management practices are followed, promoting the system's design, operation, and management, and establishing or amending the rules for the RTP network. The RTP Business Committee comprises representatives from TCH owner banks and representatives from non-member financial institutions. The participation of non-member financial institutions ensures that these institutions have an active voice in the governance of the RTP network.
The RTP network is currently accessible to financial institutions that hold 70% of U.S. demand deposit accounts (DDAs), and the network currently reaches 61% of U.S. DDAs. In addition, the RTP network is open to all federally insured U.S. depository institutions.
Credit unions that use the RTP network to make payments on behalf of their members benefit from the RTP network’s real-time final interbank settlement. In addition, credit unions can leverage a variety of features – enhanced speed, security, and messaging capabilities – to create unique offerings for their retail and corporate customers.
Corporate One is a leader in connecting credit unions to the RTP network:
• In September 2019, Corporate One committed to becoming a funding agent for credit unions on the RTP network and was certified as the first corporate credit union participant in May 2020.
• In May 2020, Corporate One became the first corporate credit union certified to Receive on the network, quickly adding Send certification in December.
• Corporate One successfully connected its first credit union to the RTP network in March 2022.
• In December 2024, Corporate One announced it successfully connected 48 credit unions to the RTP network in 2024 via its Third-Party Service Provider (TPSP) solution. As of January 1, 2025, Corporate One has connected a total of 68 credit unions to the RTP network.
Learn more about the RTP network.
Watch our “Getting on Track on the Real-Time Payments Rail” webinar for more information.