HARAHAN, La. (3/26/12)--The Louisiana Corporate CU has signed an agreement with Lending Tools (LT) to provide third-party correspondent financial services for the corporate's members, according to the Louisiana Credit Union League.
LT's Private Correspondent Gateway will replace LaCorp's current automated clearinghouse (ACH) system (eNews March 21). Member credit unions will have a custom single sign-on portal for their ACH needs and in the future will be able to consolidate and expand service offerings. Securing the solution will be LT's biometric multi-factor authentication system.
An added service from LT will mean LaCorp can provide member credit unions with their own branded LT cash management systems to business members. Credit unions will be able to easily provide business members with cost-effective ACH services seamless integrated into LaCorp's Private Correspondent Gateway for processing.
David Savoie, president/CEO of LaCorp, noted that LT has had recent success with other corporate credit union deployments.