WICHITA, Kan. (1/6/12)--Volunteer Corporate CU (VolCorp), based in Nashville, Tenn., Thursday announced it has entered into an agreement with LendingTools.com (LT), a provider of third-party correspondent financial service solutions, to implement LT's Private Correspondent Gateway.
VolCorp will transition its members from U.S. Central Bridge's APEX Automatic Clearing House (ACH) platform to LT's ACH solution. The corporate anticipates the conversion will begin early this year, said Karla Knisley, VolCorp senior vice president and chief operations officer.
Outside of the Federal Reserve, the only third-party vendors to operate a wholesale ACH platform to this scale are U.S. Central and LT, said the two companies.
VolCorp also has secured the opportunity for member credit unions to offer their own branded LT cash management systems for ACH origination services to business members (select employee groups).
LT is headquartered in Wichita, Kan.