MY CU Services’ Money Order program is handled just like any other money order. The credit union’s tellers issue money orders to their members, and the money orders are processed through your settlement account. Credit unions remit money order transactions daily to MY CU Services.
MY CU Services' fees are low enough to accommodate even the smallest issuers. Credit unions don’t have to worry that a high monthly minimum charge will price you out of the market. You are assured of good value, whether you issue one or 100 money orders each month.
How Does the Money Order Program Work?
Your members can purchase a money order directly from your credit union at a price determined by your credit union. Money order issues must be submitted to MY CU Services by 11:00 a.m. ET the next day. Issues must be submitted even when no money orders are sold.
Each day, MY CU Services debits the credit union’s settlement account for the previous day’s total.
Note: money orders should not exceed $1,000.00.
Money Order Program Benefits:
- MY CU Services guarantees funds for money orders.
- A reconciled statement of money order activity is supplied on a monthly basis.
- Submit automated issues with no monthly minimum.
- No long-term contract.
- Low per-item charges.