In this issue…
- Virtual Summit – Educational Insight 2020
- TransFund: Did you know?
- Save the Date – Annual Meeting
- Reduce Chargeback Losses with Early Notices
Reduce Chargeback Losses with Early Notices
Have you heard about one of our newest services – the Early Notice Report?
This report provides credit unions with advanced notice of return items, delivered in an electronic return cash letter sent directly from the Fed. This will allow your credit union to assess the impact of a check return earlier in the business day, potentially reducing chargeback losses. Your credit union will then have the opportunity to take its own proactive actions to help protect against fraudulent activity that may result from funds being withdrawn before the return item has been received and processed.
For just $50 a month (in addition to current processing fees), your credit union can receive return notices by 10:30 AM CST. If we receive additional items on your behalf between 10:30 AM CST and 12:30 PM CST, another report will be sent to you by 1:00 PM CST.
Interested? Please contact Member Services at (800) 470-3444, Extension 1, or email email@example.com.