1. Members go into a CU Service Center anywhere in the country and access their accounts by providing their credit union name, account number and a photo ID.
2. The teller at the CU Service Center (the "acquirer") processes a "member verification," sending a message through a data switch to the member’s home credit union (the "issuer credit union") or its service bureau. The issuer credit union’s data-processing system (or service bureau) sends member information (name, address, phone number, social security number) and account information (for share, loan and investment accounts) back through the switch to the acquirer. This process takes approximately five seconds.
3. Members then have access to all their accounts and can make deposits, withdrawals, transfers, and loan payments as if they were at their own credit union. When transactions are complete, the acquirer sends information back through the switch to the issuer credit union or service bureau, and account information is updated immediately.
4. UsNet uses an online require-and-reply system, which "asks permission" of the issuer credit union to complete a specific transaction. If the transaction falls within the issuer’s parameters in the interface, the transaction will proceed; otherwise, it will be declined. In other words, the transaction will occur only if the member’s credit union allows it. Otherwise, the transaction will be declined.
5. Members can even apply for a loan from their credit union while they’re at the acquirer’s CU Service Center. Staff can fax completed applications to the members credit union, and can even help in closing and disbursing loans. * Check with your credit union on this transaction availability.
6. Every night, through the data switch and the issuer’s account at Members United Corporate FCU, all transactions and fees are settled automatically. To help with daily balancing, informational reports are available in a format that best suits the issuer’s needs.