Corporate One Offers Real-Time Payments Webinar Series for Credit Union Leaders
Corporate One Federal Credit Union will host a two-part Real-Time Payments Webinar Series for credit unions and their operational teams in July. The series is complimentary to credit unions and breaks down what can be a complex topic into two parts to offer an overview, key knowledge points, and an action plan for how credit unions can start their immediate payments journey in a way that is easy and manageable.
The same consumer demand for speed and convenience that shifted shopping and dining habits has also changed how consumers exchange money. With real-time payments, funds can be exchanged between consumers and/or businesses in less than 15 seconds and the funds are certified, final, immediately available, and instantly settled. In a PYMNTS.com study, 30 percent of consumers say that access to real-time payments is a factor in choosing a financial institution and would pay a fee to use it.
Real-time payments are the first new U.S. payment system in 40 years. The service is offered now, through The Clearing House’s RTP network and is expected to be available next year through the Federal Reserve’s FedNowSM service.
“Determining when and how credit unions should operationalize immediate payments can be daunting, but the service represents a strategic opportunity to enhance outstanding member experiences while growing revenue and membership,” says Corporate One’s President and CEO Melissa Ashley. “As a trusted partner to more than 700 credit unions across the country, it has been Corporate One’s priority that the evolution to immediate payments includes credit unions, and we curated these sessions specifically for the unique needs of our industry.”
The two-part series includes:
• What You Need to Know Now about Real-time Payments – Presented at 2:00 p.m. ET on Tuesday, July 12
• Getting on Track on the Real-Time Payments Rail – Presented at 2:00 p.m. ET on Thursday, July 21
“Real-time payments are not the same thing as Venmo or Zelle. It’s vital that credit unions educate themselves about their immediate payment options and how to offer the service to their members,” says Ashley. “At a minimum, credit unions need to be a participant and connected to the real-time payments rail as ‘receive only’ so their members can receive funds sent to them via immediate payments. Otherwise, they will find a financial institution that lets them access that money immediately.”