Payment Services

At Mid-Atlantic Corporate, we know the value of good service. That's why we're dedicated to putting our members first by responding to their needs.

We know each credit union has different needs. For this reason, we offer a variety of payment services to meet the unique needs of credit unions.

ACH Services

Mid-Atlantic Corporate's ACH (Automated Clearing House) Services are designed to help our members meet the rising demand for electronic funds transfers. Mid-Atlantic Corporate's ACH Programs are the smart option for meeting receipt and origination needs.

Files & Returns
ACH Files & Returns through Zephyr^® streamlines the way you receive ACH files from Mid-Atlantic Corporate. It does not require you to load or maintain software at your credit union. Your credit union has the power to determine whether you wish to process multiple ACH files from the Federal Reserve throughout the day, or combine the various presentments into one file for posting in your host system.

Files & Returns allows you to easily create ACH return or notification of change items. Mid-Atlantic Corporate will handle all software upgrades including NACHA Rules related updates to assist with your compliance to ACH rules.

Origination
ACH origination functions occur through Zephyr^®. There is no software to load on your computer and maintain in your office. The origination system allows you to set-up one-time and/or recurring ACH transactions. All standard ACH formats are supported. Mid-Atlantic Corporate handles all software upgrades including NACHA Rules related updates to assist with your compliance to ACH rules.

Fax Returns & Notifications of Change Service
Mid-Atlantic Corporate can process credit unions' ACH return and notification of change (NOC) items. We provide the forms for credit unions to complete with the necessary information. Fax the form(s) to us by 12 p.m. (Noon) ET, and we will send the items back into the ACH network that same day. The corresponding entry will appear in a day or two at your credit union’s ACH settlement institution.

Corporate Share Drafts

Mid-Atlantic Corporate offers members a business "checking" account with the Corporate. The corporate share drafts clear from the credit union’s Transaction Account at Mid-Atlantic Corporate without requiring a separate account with compensating balances.

Electronic Bill Payment

Electronic Bill Payment (EBP) makes it simple and convenient for credit union members to pay monthly bills. The payment is debited automatically from the credit union member's account. Through EBP, credit unions help their members save time while managing funds effectively. For more information, please visit My CU^® Services, LLC.

Member Share Draft Processing

Mid-Atlantic Corporate's in-house share draft processing operation offers straightforward, competitive processing fees, with no hidden costs. In addition, we do not require compensating balances.

Mid-Atlantic offers many extra services with our member share draft processing program including automated returns, online image retrieval, and homebanking image availability. Our automated return options allow you to securely upload a file of return items to Mid-Atlantic or to securely enter the items directly. Both options are available via Zephyr^®. In order to assist you with processing your data file and assist your credit union with meeting member needs for share draft copies, we have made the digital images of your members' items available using Zephyr^®. With homebanking image availability, you can make the digital image of your members' items available to them via your homebanking system, eliminating the need for them to call and request copies of items needed.

Money Orders

Mid-Atlantic Corporate's money orders are handled just like any other money order. The credit unions' tellers issue money orders to their members, and the money orders are processed through the Corporate's account reconcilement program. Credit unions must remit money order transactions daily to Mid-Atlantic Corporate. Mid-Atlantic Corporate's fees are low enough to accommodate even the smallest issuers. Our members don't have to worry that high monthly minimum charges will price them out of the market. Members are assured of a good value, whether they issue one or 100 money orders a month.

Preferred Plan Drafts

Mid-Atlantic Corporate's Preferred Plan Drafts (PPD) program is more than just a corporate share draft program. With PPD, members can choose among three plans that offer various earnings credit of float based on their monthly activity. The program is a positive pay program with drafts reconciled automatically for the credit union’s convenience. In addition, monthly activity reports are provided to credit unions who participate in the program.

Wire Transfers

Wire transfers move funds between institutions. Credit unions can wire funds to and from a financial institution, for deposit at Mid-Atlantic Corporate or the institution of their choice. Mid-Atlantic Corporate's cut-off time for domestic wires is 4:30 p.m. ET and 1 p.m. ET for international wires. Wires can be set up as recurring templates for members that do the same wire on a daily, weekly or monthly basis.

Third Party Wires
With domestic third party wires, the credit unions' members can transfer funds to any financial institution capable of receiving funds. Credit unions can also wire funds to institutions for the purchase of investments.

International Wires
An international wire, transfers funds from one financial institution to another across international boundaries. International wires are handled in the same way as third party wires. Funds can be sent in U.S. dollars or foreign currency.

Zephyr^® Wires
Wires can also be conducted quickly and easily under the "Wire Transfer" section of Zephyr^®. Mid-Atlantic Corporate's cut-off time for initiating domestic wires through Zephyr® is 4:30 p.m. ET and 3:00 p.m. ET for international wires. When sending domestic and international wires by way of Zephyr^®, Mid-Atlantic Corporate can assist with OFAC validation.

Western Union

Western Union's Quick Cash^® service enables credit unions to transfer funds to, or on behalf of their members. Credit unions call Mid-Atlantic Corporate with their member's name and the amount needed. Mid-Atlantic Corporate enters the information into Western Union's Quick Cash^® system. The funds are available within minutes at any of 35,000 Western Union locations worldwide.