4.16.10 ACH & National Settlement Transactions

ACH & National Settlement Transaction Processing

Effective April 19, 2010, ACH credit origination transactions (forward credit items) and National Settlement Service transactions will be debited from VACORP’s Federal Reserve Bank account at the time the ACH credit items are processed (originated) by the FRB instead of the effective date of the transaction.  Credit unions that process these types of transactions will see them posting earlier than in the past.  As has always been the case, these transactions will be posted down to the corresponding credit union at the time they are incurred.  If you have any questions at all, please contact Emily Allen in the Accounting Department at 888.482.2677 ext. 812.