WICHITA, Kan. (1/30/12)--Corporate credit union Tricorp FCU, Westbrook, Maine, has entered into an agreement with LendingTools.com (LT), a third-party provider of correspondent financial solutions, to deploy LT's Private Correspondent Gateway to member credit unions.
The partnership continues a trend of corporate credit unions looking to LT to provide a replacement to U.S. Central Bridge's APEX automated clearinghouse platform (ACH), said the new partners. LT provides ACH and other transaction, reporting and settlement technology services to correspondent institutions.
"We serve a very specialized market that few vendors understand," said Steve Roy, Tricorp FCU president/CEO of. "LT not only understands our unique needs, it has the vast experience and specialized technology required to help us provide quality financial services to our member credit unions."
Roy also said LT can integrate biometric authentication into its secure platform, to provide security for member credit unions.
Tricorp also can offer member credit unions branded cash management systems to select employee groups (SEGs) through the partnership with LT. Credit unions can provide their SEGs with ACH services that integrate into Tricorp's Private Correspondent Gateway for processing.