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Volunteer Corporate offers an array of Item Processing services to meet the needs of your credit union and its members. Whether you’re in the market for share draft processing, business checking, money orders or cashier drafts, VolCorp can provide the premium solution for you. Best of all, VolCorp’s Item Processing services have been designed specifically for the unique needs of credit unions.
Item Processing
Volunteer Corporate is the leading processor of share drafts in the State of Tennessee. We process for over 140 credit unions representing over 98% of the credit union share draft market. Whether you’re considering a new program or converting from another processor, let VolCorp show you how we can make the difference. Unlike other share draft processors, our program offers the complete package including extensive cost analysis, testing, training, and marketing assistance. Since 1983, VolCorp has met all our members’ share draft needs. In addition, we now offer share draft imaging as part of our program.
Corporate Share Drafts
VolCorp’s Corporate Share Draft program was designed to offer our members an alternative to bank checking accounts. This program enables you to write your member and credit union disbursements on your own account. We process the items and settlement is posted to your Transaction Account daily. Our Corporate Share Draft program allows you to maximize earnings on your available funds and eliminate costly fees associated with bank checking accounts.
Cashier Drafts
Modeled after our Corporate Share Draft program, our Cashier Drafts are the solution when your member requires a certified check. We will order and deliver the drafts to your office. At your member’s request you will issue the draft. VolCorp will process the items and post settlement to your Transaction Account. Cleared item detail is available each month with your statement.
Money Orders
VolCorp has developed a quick, easy and inexpensive way to offer Money Orders to your members. It’s as simple as writing the draft and waiting for it to clear your Transaction Account. Compare the benefits of our program to other money order processors.
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We order the drafts and deliver to your office. |
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You retain the float and earnings. |
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Settlement takes place only when the items clear. |
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No communicating daily totals. |
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Receive cleared item detail for easy reconcilement. |
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Lower-per-item fees than with other money order programs. |
Check 21 Substitute Check Disclosure
Under Check 21 regulations, financial institutions must provide this disclosure when a consumer requests an original check or copy of a check and receives a substitute check. In addition, the financial institution must provide this disclosure if a check the consumer has deposited is returned unpaid to the consumer in the form of a substitute check. The disclosure describes substitute checks and consumer rights regarding substitute checks.
A copy of the Substitute Check Disclosure to use for your credit union members
is available; click on the link below:
Check 21 Substitute Check Disclosure
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