Vizo Financial Onboards Credit Unions to the FedNow® Service Through the Federal Reserve
Cheryl Johnson, Cheryl Johnson PR
Greensboro, N.C. (January 9, 2024) – Vizo Financial and its payments CUSO, MY CU Services, began onboarding credit unions on the Federal Reserve’s FedNow® Service in December 2023. Riverfront Federal Credit Union, located in Wyomissing, Pa., was the first credit union that the Corporate welcomed to this instant payments solution.
“We’re excited to help Riverfront FCU implement the FedNow® Service at their credit union,” said Rodney May, Vizo Financial’s SVP/chief engagement officer. “We know that this instant payments solution will be extremely beneficial for both the credit union and its members.”
The FedNow® Service, the Federal Reserve’s new instant payment offering, officially launched in July 2023. This service enables credit unions to offer 24/7/365 instant payments, allowing their members to send and receive money immediately.??
Vizo Financial is certified to offer settlement for the FedNow® Service instant payments, as well as provide instant payments receiving capabilities for credit unions. Both services are available through the Corporate’s online platform, which acts as an all-in-one source for credit union instant payments.
“Our members are at the core of everything we do, which is why we’re already implementing the necessary components needed to offer credit unions send capabilities with the FedNow® Service, as well,” said May. “We’re hoping to be able to offer these capabilities to our members later this year.”
The Corporate encourages credit unions to reach out to inquire about implementing instant payments for the FedNow® Service at their institutions. As a correspondent, Vizo Financial and MY CU Services can provide all credit unions with a connection point to access the FedNow® Service. For more information, credit unions can visit the FedNow® Service page on Vizo Financial’s website.
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About Vizo Financial Corporate Credit Union
Vizo Financial Corporate Credit Union’s goal is to drive credit union success through proven EXCELLENCE, unmatched EXPERTISE and engaged PARTNERSHIPS. It is a state-chartered corporate credit union that serves CUSOs, leagues, chapters and more than 1,100 credit unions in the U.S. and Canada. Vizo Financial is part owner of the consortium, Aptys Solutions, LLC. Vizo Financial provides money management, payments and core processing services for credit unions. For more information, please visit www.vfccu.org.
About MY CU® Services, LLC
MY CU Services, LLC is the wholly-owned payments CUSO of Vizo Financial Corporate Credit Union, headquartered in Middletown, and is a leading provider of electronic payment, mobile and technology solutions for credit unions. MY CU Services currently provides services to more than 1,100 credit unions nationwide. For more information, visit www.mycuservices.com. It’s time to Experience the Difference with MY CU Services.
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