Cash Management Services
ACH Origination (Automatic Clearing House Transactions)
With ACH credit, you can establish automatic and repetitive payment schedules such as direct payroll deposit to your employees. ACH debit features automatic collection for invoices, monthly dues and other recurring payments, enabling you to collect revenues in a timely manner.
Important Information For ACH Origination Customers
ACH transactions are required to be verified against the Office of Foreign Assets Control (OFAC) list published on the U.S. Treasury's Official Website. You are required to verify payments initiated on the online banking system in accordance with the OFAC laws and regulations. For additional information regarding OFAC, please click the following link: Office of Foreign Asset Control
Positive Pay
The Positive Pay system is a fraud prevention tool for your business checking account. With the account setup, a business can upload to United Labor Bank a list of checks written. Checks presented for payment at United Labor Bank are compared with the Positive Pay file. If the check attempting to clear is not on the list, it is rejected.
Check Reconciliation
Check Reconciliation Services give you the ability to download account information into your company's accounting software. You can reconcile your account daily, if desired, or as often as you need. This is ideal for the client with high volume checking accounts.
Lockbox Services
Our Lockbox services are the key to faster, more efficient processing of employer monthly contributions. United Labor Bank can speed payment processing, translating into more readily accessible funds. Lockbox was designed to relieve you of the time consuming clerical tasks associated with accepting contributions.
We take care of the tasks of collecting the payments from the post office, scrutinizing, endorsing, and depositing your member's payments. Our employees and automated equipment have the ability to handle high volumes in a quick and efficient manner. These economies-of-scale work to your advantage, providing low-cost payment processing.
Courier Services
Let United Labor Bank bring the bank to you. We offer a variety of deposit pick up options. Depending on your deposit type, we partner with our vendors to bring our bank to you safely and with peace of mind.
Business Services
Payroll Services
Now there's a simple, affordable way to prepare and issue your employee payroll. You can process your outgoing payroll directly to your employee's account from your desktop with United Labor Bank's On-line Banking ACH feature.
Additionally, United Labor Bank can assist you with your payroll needs through our affiliation with PAYCHEX. Paychex services simplify payroll processing for tax reporting, year-end filings, and management reporting requirements. Paychex services are ideal for customers with large payroll processing needs.
Merchant Services
Whether you accept payments at your location, on-line, via the mail, or over the phone, we can meet the needs of your business and your customers. Merchant Services provides the convenience of 24/7 processing for Visa®, MasterCard®, American Express®, Discover®, ATM Cards, Debit Cards, Gift Cards, Check Conversions, and On-line Transactions.
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