Financial technology vendor Fundtech announced that Corporate One Federal Credit Union has agreed to purchase and implement the company's ACH payment system into its nearly 800 member banks.
Corporate One will use Fundtech's CASHplus and PAYplus-ACH solutions, replacing the APEX-ACH platform offered through the U.S. Central Federal Credit Union -- the wholesale provider of financial services to the corporate network.
"The selection of Fundtech's ACH platform is a natural fit for our members and for our organization," said Lee Butke, president/CEO of Corporate One, in a written statement. "This partnership will provide our member credit unions an exceptional ACH solution with many new features and benefits over the APEX-ACH system, and at a more competitive price. Additionally, the Fundtech solution gives Corporate One the ability to process ACH transactions for any other corporate credit union that would like to pool their volumes with us to take advantage of the power of aggregation for their own membership."
Corporate One said it will soon begin the process of working with its members to transition them to the new ACH platform, and expects it to be completed by June 30.