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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 135 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. |
Branch Capture
Our Branch Capture Solution may be the turning point in how you serve your members, with the ability to capture check images and send them electronically for processing. This will help you cut the cost of microfilming, using courier services and maximize cash letter availability.
With Branch Capture, you will no longer worry about deposit items lost in transport as items are stored in two locations:
- The physical items are stored at the branch for a specific period of time
- Images are stored at VolCorp which are available to you the next morning through Access Image-NET
By automating check collection processing functions at the branch level, you’ll increase productivity and optimize accuracy. You will also have access to your deposit images just like you do with share draft images. Here are a few other benefits:
- 100% cash letter availability
- Free onsite training and expert support from people you know and trust
- Earn the best interest with our competitive rates
- Easy to read reports by batch, teller or branch to name a few
- Free access to your deposit check/return images through Access Image-NET
- 7-year image retention
For more information or a comparative analysis, please contact Michelle Palmer at (800) 470-3444 or (615) 232-7900, extension 277.
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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