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Value Proposition

Providing cash and coin services is one of the most essential payment services a credit union can provide its members. Understanding this, Corporate One has partnered with a national provider to ensure our members have the most dependable, flexible and secure vault services program available. Our program is cost-effective and no hassle, allowing your credit union to order and deposit cash and coin in the manner that best serves your institution, and ultimately, your members.

How does it work?

Deposit Services: Your credit union’s deposit is delivered to the vault via your designated carrier. The vault receives and processes your deposit and we credit your account the next business day when received before the local vault deadline.

Orders: Your credit union’s orders are processed via the internet or voice response unit (VRU). You have the option of receiving a standard (i.e. repetitive) order, or you may request coin and currency on demand as needed. The vault notifies Corporate One daily of all orders received by the vault deadline and processes for delivery.

Coin and Currency Delivery: The vault enters the designated armored carrier and delivery information into the vault management system. Vault security does not allow non-armored carrier deliveries. Carriers other than what is designated in the vault management system will not be granted permission to deliver or pick up from the vault. Your cash order will only be released to a prearranged designated carrier for delivery to your main office or branches.

Benefits

  • On average, our service fees are significantly lower than dealing directly with the Federal Reserve or a bank.
  • Minimize non-earning assets by ordering currency in odd lot sizes and holding less in your vaults.
  • Get an unlimited number of deposit and deliveries of currency per endpoint per week. Order and deposit as many times a week as you need to meet your credit union and your members' needs.
  • Minimize coin sorting by depositing mixed bags of coin versus denomination sorted bags.
  • Rush order processing is available for when you need currency on short notice.
  • Competitive order deadlines are available.

Features

  • Multiple ordering options include both internet or VRU.
  • Quick and flexible access to order coin and currency with two available options:
    • Standing orders. Daily and regular orders can be prescheduled by day of the week
    • Standard orders. On-demand customized orders can be placed through any touch-tone telephone or through the internet
  • Flexible ordering of straps, partials or notes of currency. Wrapped coin can be ordered by the box or roll. Deposit options allow you to prepare your cash deposit in the most convenient and efficient manner.
  • Highly competitive deadlines allow credit unions to receive next-day provisional credit.
  • Orders received by 1:00 p.m. ET will be released to couriers for next-day delivery or just-in-time order fulfillment.
  • From receipt through final verification, transaction safety is the hallmark of the vault management system technology.
  • Each cash vault site has a fully redundant backup, for fast, reliable disaster recovery.
  • You can access a complete cash management picture through Members Only, our online member portal.
  • You can monitor your branch’s cash ordering and deposit activity at a location level and across all locations.
  • No special software or hardware requirements are needed – just a phone or the internet and user access credentials.