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Same Day ACH and the Impact on Members

Some electronic payments may now be posting to your accounts faster! Same Day ACH-Debits took effect on September 15th to improve the speed and efficiency of how electronic payments are processed.

“ACH” stands for the “Automated Clearing House,” which is the network that moves money between banks. Examples of ACH payments include any time you provide your checking or savings information to pay bills electronically. An example of an ACH payment includes utilities, club dues, credit card providers, etc.

Some other payments that you may not think of as electronic but may actually be ACH include:

  • Checks written to merchants such as grocery and big box stores (such as Wal-Mart) may be converted to ACH debits. If so, these checks can post and clear on the same day.
  • Debit cards from retailers (such as Target) that link to your checking account and use the ACH process. If so, they can post and clear on the same day.

In the past, some ACH payments may have taken a day or two to process, so please be aware that some of these payments may post to your accounts on the same day they are made beginning September 15. If a sufficient Available Balance is not present in your account to cover an ACH, you may be charged an NSF fee.

The new processing times are a result of the ACH network being made faster and more efficient and all banks and credit unions will be adjusting their processing accordingly.

Click here for Frequently Asked Questions on Same Day ACH.

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