MONROE, Mich. (4/23/13)--Monroe County Community CU in Monroe, Mich., has received a $35,000 contract from the city to perform the city's payments processing functions.
That means people paying bills such as water bills, parking tickets, recreation program fees and other payments--whether by mail, in person or electronically--will be directed to the credit union's branch in City Hall, instead of the nearby city clerk-treasurer's office (Monroe News April 20).
The city said it could save up to $15,000 a year by having the credit union perform the function. MCCCU will process the funds, credit them through the city computer network and deposit them into the city's account at Fifth Third Bank.
The arrangement was created after a cashier moved from the treasurer/clerk's office to a vacant position in he city's building department. Under the one year contract, the credit union receives 50 cents for each payment it processes. The city typically processes up to 70,000 payments during a year.