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Important Information Regarding ACH Same Day Payments


If you have an ACH item, electronic payment, or a check that is converted to an electronic payment please read the following update.

On September 15, 2017, a new federal rule allowing for faster processing of withdrawals and payments from your financial accounts (at Northern Credit Union and at all other financial institutions), will go into effect. You will now need to have deposited money into your account at least 24 hours before a payment is scheduled, to ensure that there are ample funds available to cover the transaction.

What Does This Mean For Me?

When checks are given to merchants or online payments are scheduled with businesses, such as your utility company, the amount of the debit may be withdrawn from your account the day the charge is made.

This rule has been put in place by the Electronic Payments Association, known as NACHA, and impacts all financial institutions, merchants, and consumers. 

Credit unions that receive ACH transactions must have the ability to accept additional ACH files each day and post any Same Day ACH items to their members’ accounts. Previously, the withdrawal or payment could have taken as long as two to four days. As a reminder, checks should never be written, or payments scheduled, when sufficient funds may not be available in your account to cover the entire amount of the purchase or payment. With the implementation of this new rule, this becomes more important than in previous years.

How Can I Manage My Account?

Northern provides members with easy-to-use tools to manage your accounts and to effortlessly monitor how much money is in your account.

  • Download our Mobile app through your device’s app store
  • Sign up for Online Banking in order to transfer funds, schedule payments, check your balance and more! 
If you have a question or would like more information please contact us

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