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Services and Products
Louisiana Corporate offers a wide range of investment,
liquidity, and correspondent financial services. Your corporate,
unlike banks, requires no compensating balances, offers lower costs
on services, and pays hard dollar dividends.
Investments
Louisiana Corporate offers a wide range of quality
investment opportunities, including the Money
Market Maximizer account (a Louisiana Corporate exclusive) and
other interest-bearing options. Louisiana Corporate always pays
competitive rates, and often offers superior yields when compared
to banks and other corporate credit unions. We’re
also the only corporate credit union serving Louisiana to offer SimpliCD,
the great new product which provides hassle-free, competitive-rate
shopping for bank, thrift, and credit union CDs from across the nation.
Credit unions should also consider the fact that Louisiana Corporate's
membership capital requirements are among the lowest in the nation.
Correspondent
Services
ACH
RECEIPT AND ORIGINATION
Louisiana Corporate can act as the correspondent
financial institution for your credit union’s direct deposit
or ACH (automated clearing house) dollars.
The credit union’s earnings increase because ACH transactions
are deposited immediately. Bank and wire charges are reduced,
as fewer transfers between institutions are required.
Asset Liability Reporting services are available
through Louisiana Corporate. A variety of formats and reporting
frequencies are available to meet the needs and budgets of any size
credit union. Our reporting models are designed exclusively for
credit unions and conform to the requirements of NCUA Rules and
Regulations.
APEX
APEX is a browser-based ACH program that allows
you to initiate ACH transactions from your credit union via the
internet. It is a secure and convenient means of processing ACH.
CASH
CONCENTRATION SERVICES
Louisiana Corporate’s cash concentration program
offers a safe, simple, and convenient way for credit unions to transfer
funds overnight into their investment account. Cash concentration
is a low-cost alternative to wire transfers.
Check collection is the Federal Reserve’s term
for check depositing processing. Louisiana Corporate’s
Check Collection Program allows your credit union to deposit checks
and share drafts received from your members directly into your Louisiana
Corporate settlement account, using the nationwide collection services
of the Federal Reserve Bank System. Benefits include the availability
to earn real dividends (funds credited directly to your interest-bearing
settlement account), immediate availability of 88% of your deposit,
on average, a late deposit window, and daily account information via
ACCESS.
COIN
AND CURRENCY PROGRAM
Credit unions need cash to satisfy member needs for
withdrawals, loan disbursements, and cashing share drafts. Chances
are that Louisiana Corporate can provide you with a safer, more cost-effective
method. One phone call…that’s it. We arrange
the cash order with the Federal Reserve and the armored courier partner,
Loomis, Fargo & Co. All you do is sign for the money!
Benefits include increased safety (the armored courier brings cash
to the credit union), no float or earnings loss, and no compensating
balances or hidden charges.
CORPORATE
SHARE DRAFTS
Our corporate share drafts work like any business
checking account, except clearing is done through the Corporate, not
a bank. Features include no compensating balances, interest
earned on unused funds, lower fees, and no annual fee for overdraft
protection.
EBP
Louisiana Corporate's EBP service allows your credit
union to offer Electronic Bill Payment via the internet to your
members. Like all LaCorp services, this program is affordable for
credit unions of all sizes.
FUNDS
TRANSFER AND WIRE TRANSFERS
Low-cost wires are available through the Corporate’s
use of Federal Reserve’s Fedwire System. We also offer
Western Union cash availability at 16,000 locations nationwide.
One call to the Corporate initiates this service for your members.
A total low-cost back-office solution. The Corporate
handles the settlement, with the Federal Reserve handling the processing.
The price is extremely competitive, and step by step assistance is
available. Benefits include full integration support to your
data processor to ensure error-free transactions, integration with
ACH files if requested, and secure, efficient, and timely return processing.
OPEN
DOOR
Open Door can improve the way you do business with Louisiana Corporate. Open Door is an all-inclusive, interactive program that works via
the internet. You can input and retrieve account information, initiate
transactions, send wires, order coin and currency, and much more;
all from the ease and convenience of your desktop.
If you’re interested in saving money and getting
great member service at Louisiana Corporate, contact us at (800) 421-7030.
You may also send e-mail to lacorp@lacorp.com
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