CU Spotlight: Why TBA Credit Union 

Says ‘Yes’ to Real-Time Payments—and What’s Next 


TBA Credit Union was founded in 1955 with just $50, a cigar box, and a strong belief in people helping one another. At that time, a small group of Traverse City school staff recognized a need: financial support for educators. They pooled their resources and created what would become the Traverse City Board of Education Employees Credit Union. In those early days, funds were kept in a cigar box, and loans were based on trust—members would take what they needed and leave an I.O.U. This mutual support spirit laid the groundwork for what later became TBA Credit Union. Today, the $370 million credit union serves over 20,000 members and is a trusted community institution. TBA Credit Union continues to grow with the same values that sparked its founding: trust, education, and service. 

TBA Credit Union used Corporate One’s Third-Party Service Provider (TPSP) solution to connect to the RTP® network in January 2024. Stacyann Smith is the Chief Financial Officer at TBA Credit Union.   

Why did TBA Credit Union decide to implement real-time payments?  

Stacyann: We implemented real-time payments in January 2024 to offer our members a faster and more convenient way to move money. We recognized there was growing demand for faster payment options, and staying competitive meant meeting those expectations. While we haven’t formally advertised the service, usage has taken off organically. Once we’re connected to the FedNow® Service, which we expect to happen soon, we anticipate even more growth. 

What have you learned from implementing real-time payments at your credit union? 

Stacyann: One of the biggest surprises was how quickly we began seeing transactions from platforms like Venmo and Square after going live. Our members are using the service regularly, and funds are instantly available in their accounts. I’ve worked at both banks and credit unions, and this was one of the smoothest implementations I’ve experienced. Your project management team was incredibly organized, and the process required minimal effort from our side. It’s been seamless. 

When you first started thinking about connecting TBA Credit Union to the RTP network and, soon, the FedNow Service, what concerns did you have?  

Stacyann: Our initial concerns centered around core integration, the potential for manual effort required, and risk exposure. We asked ourselves: What does this mean for our members? How does it work? Ultimately, it’s just a faster way to move money. It helped to think of RTP and ACH as two trains on separate tracks—they run alongside each other but do not overlap. We realized how valuable it would be for our small business members, especially those using platforms like Square.  

What types of use cases are you seeing at your credit union now that you have been live on the RTP network since January 2024?  

Stacyann: We’re seeing strong adoption among small business members who value the ability to receive funds quickly. Members are also receiving funds outside of business hours, even at 2:00 AM or on weekends. It has also had a positive impact on our liquidity, as funds are being transferred into TBA Credit Union more quickly. Additionally, members who are paid daily—through services like DailyPay—benefit from the immediacy of real-time payments. 

Have you experienced any fraud on the RTP network?  

Stacyann: No, we haven’t experienced any fraud. Currently, we are only receiving RTP transactions, which have helped limit our exposure. 

What impact has the implementation of immediate payments had on day-to-day operations and liquidity management?  

Stacyann: The impact has been minimal. Balancing is simple, and the operational lift has been very low. 

TBA Credit Union will soon be live on the FedNow Service. What appealed to you about FedNow? Why do you feel it’s important to be on both rails?  

Stacyann: Being connected to both payment rails allows us to serve members regardless of which rail the sending financial institution uses. Our goal is to offer comprehensive and flexible options for our members. FedNow expands our reach and ensures we’re prepared for whatever payment method our members or their senders prefer.  

What advice would you give to other credit unions considering joining RTP or FedNow?  

Stacyann: Go for it—it’s absolutely worth it. The process was straightforward, and the benefits to our members have been clear. Even The Clearing House audit was simple and easy to navigate. Corporate One made the entire implementation process effortless. Their support was outstanding, and this has truly been one of the easiest projects I’ve been involved in. Our members are happy, and we’re excited to expand to FedNow later.