Treasury Management

1. ACH Origination

   Make Your Business More Efficient

   Businesses that use automated clearing house (ACH) origination to facilitate their payments are more efficient, more secure, and have lower transaction fees than other methods of payment. Use ACH Origination to initiate expedited electronic business payments and collections, including:

   • Payroll via direct deposit
   • Vendor and supplier payments
   • Initiating fund transfers to and from non-credit union accounts
   • Collection of membership dues
   • Collection of accounts receivable
   • Paying state and federal taxes

   Benefits to ACH Payments

   • Manage your cash flow with real-time control
   • Cost-effective banking with lower transaction fees
   • Conveniently schedule your payments in advance
   • Reduce the inherent risks and fraud associated with paper checks

2. Wire Transfer

   Convenient and Secure Method for Expedited Payments

   Efficiently managing your business requires reliable, on-time payments to your vendors and suppliers. Wire transfers are a simple, secure, and practical way to transfer funds in an expedited manner, allowing your business additional time to manage your receivables. Our digital platform allows you to manage payments at your convenience, providing you with peace of mind. 

   • Cost-effective: Save on fees compared to traditional in-person wire transfers
   • Convenient: Real-time, optimal exchange rates
   • Ease-of-use: Track domestic and international wires with a federal reference number
   • Confidence: Securely send funds in a timely manner

   Streamline Your Business with Digital Wire Origination

   • Speed of payment
   • Single or multiple wire entries
   • Recurring entry setup and maintenance
   • Pre-arranged payments
   • Recurring payments and template creation
   • Same-day processing

3. Business Remote Deposit Capture

   Convenient and Flexible Deposits at Your Fingertips

   Remote Deposit Capture offers the ability to scan high volume and high-value checks, directly to Great Lakes Credit Union from the comfort of your place of business or home office. Your business can deposit on your schedule by using electronic deposit, and funds will be available as soon as the next business day.

   • Convenience: Deposit one check at a time, or multiple checks in a batch
   • Flexibility: Enjoy the flexibility of after-hours deposit times
   • Savings: Significantly reduces collection float

   Deposits Made Easy

   • Checks conveniently deposited form any location
   • Accelerated deposit process so funds are available sooner
   • Encryption and authentication to ensure the secure transmission of check images and data
   • Digital archives of deposited checks 

4. Positive Pay

   Protect Your Business

   Protecting your business is more important than ever in today's digital world. Our advanced security solutions can help you prevent, recognize, and report scams and fraud, even before they happen. Enhanced reporting and simplified transaction monitoring help provide the controls and protections you need to help prevent loss from fraudulent activity. 

   • Digitally confirm check information
   • Ensure only valid checks are cashed
   • Help prevent unauthorized payments

   Additional Levels of Security with Positive Pay

   When a check is presented for payment, the business member reviews it against an authorized list. If there's any discrepancy, the business owner maintains the authority to deny payment, ensuring a secure and accurate transaction process. 

    

Want to learn more about our Treasury Management solutions? Contact a our Commercial Lending Group at 847-578-8881 or email commerciallending at glcu dot org

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