NASHVILLE, Tenn. – Volunteer Corporate CU said it signed an agreement with LendingTools.com, a provider of third-party correspondent financial service solutions, to implement LT’s Private Correspondent Gateway.
VolCorp will transition its members from U.S. Central Bridge’s APEX ACH platform to LT’s ACH solution.
VolCorp expects the conversion to commence in early 2012. “As U.S. Central winds down, we are in a position to offer a replacement and an enhancement to a very good incumbent system,” said Eric Goering, CEO of LT. “We pride ourselves in understanding these unique deployments, and we are excited to work with the caliber of people at VolCorp.”
VolCorp said it has secured the opportunity for member credit unions to offer their own branded LT cash management systems for ACH origination services to business members. As credit unions continue to look for new sources of revenue, the corporate said this “uniquely interfaced service option” will encourage expansion of credit union business member bases with seamless integration into VolCorp’s correspondent cash flow and settlement.
