Cash Management Services
Credit Union Bank’s Cash Management Services are designed to help you operate a smarter, stronger business, meet competitive challenges and maximize your profit potential. Our technology-based products can be tailored to your specific business and industry type while allowing you greater flexibility in managing your day to day operations. Contact us to request additional information.
Our remote deposit product, Merchant Deposit, utilizes a desktop scanner that connects to your PC and the Internet. With it, you can scan checks received from customers and issue deposits electronically to the bank, anytime day or night. That translates into faster access to your money and more time for you to run your business. Merchant Deposit complements our Business Online banking by allowing you one secure login for multiple financial services.
Business Online Banking
With Business Online Banking you can access your accounts 24 hours a day, 7 days a week from any PC with an Internet connection. Available in a secure environment this service is modular in design and may be customized to your business’ specific needs.
Business Online Banking allows you to:
- Monitor current balance information and transactions on deposit accounts
- Reconcile accounts
- Place immediate stop payments without forms or phone calls
- Transfer funds between Credit Union accounts
- Loan inquiry, advances and pay downs (some restrictions apply)
- Pay employees through direct deposit
- Generate electronic debit and credit transactions utilizing ACH payments
- Customize multi-user security levels
- Wire money to other financial institutions
No matter what size your company is, Direct Deposit is a convenient and cost-effective way to manage your payroll. Electronic payments to employees, retirees and other recurring payment recipients can reduce the cost of paper checks and distribution and eliminate stop payment charges for lost or stolen checks. In addition, employees gain quicker access to their money and the convenience of scheduled electronic deposit.
Business Bill Pay
With Business Bill Pay you will be able to receive, view and pay all of your bills from one centralized, online location. Additional features include the ability to attach invoice and credit information, consolidate multiple sets of invoices, and establish security levels for additional employees.
Electronic Debit and Credit Transactions
If your company or organization typically receives or makes repetitive payments, you can realize considerable savings and enhance cash flow with our electronic money transfer service.
- Eliminate cost of bill preparations
- Make prompt, timely payments and disbursements
- Gain better control over your receivable operation
- Faster conversion of receivables into available cash
Credit Union Bank provides an efficient, safe and cost effective lockbox solution for companies to receive, deposit and post payment receipts for low to high volume remittance accounts. Transactions ranging from check only, to fully encoded payment coupons (association dues, loan payments, rental stubs) are now automated, eliminating manual hands on data entry. The captured receivables data and images are then available for file uploading.
Our lockbox service will include a local PO Box and our dedicated lockbox team will be opening each envelope and scanning payments at our secure bank location in Fort Walton Beach. We also have the ability to consolidate the reporting and posting of multiple payment types including ACH, and Credit Card.
Electronic Cash Concentration & Depository Transfer
We provide the capability to electronically move funds deposited at other banks into your account at Credit Union Bank. Businesses or organizations with multiple deposit locations can transfer funds electronically and have them available on the next business day. Electronic concentration can eliminate costs associated with wire transfers, idle balances and burdensome internal processing.
Business Sweep Account
You can help maximize your return on investable cash with Credit Union Bank’s overnight investment service. The surplus balances from your operating account can be automatically invested overnight. Funds are then transferred back and forth as necessary, to cover checks and invest new excess funds, ensuring that every extra investable dollar is working for you.
Through our Business Online Banking, you can initiate both foreign and domestic wire transfer requests. Wire transfers allow the time-critical movement of funds between an account at Credit Union Bank and an account at a destination bank.