Money Orders and Official Checks Program
Trust the leading issuer of money orders and official checks to deliver value.
For 25 years, CUNA & Affiliates has had a strategic alliance to offer value-priced money orders for your credit union through MoneyGram a leader in transaction services for more than 60 years. Known and accepted across the world, MoneyGram issues more money orders and official checks than anyone else.
Outsourcing with a COMPLETE program frees up staff time and guarantees compliance.
Outsourcing back-office functions for your money order program is a great way to free up staff to spend more time with your members cross-selling other products and services. The CUNA/MoneyGram programs are COMPLETE.
Program Elements
- Money orders or official checks
- Paymaster check writing equipment
- Marketing materials, including window decals, posters, ad slicks and sample newsletter articles
- Forms and supplies—everything needed to run your program on a daily basis.
And with both programs you'll get:
- Dedicated customer service representatives—answer questions, trace money orders and assist with photocopies and stop payments
- Fraud protection systems—protects your documents against fraudulent use
- Back-office processing—your money orders are processed, imaged and stored
- Research—tracking of lost or stolen money orders
- Automatic transmission—information is sent directly to MoneyGram for processing; settlement can be made via ACH or wire transfer.
Plus, MoneyGram delivers complete compliance with the escheatment laws of your state and they even store cleared money orders for the required seven-year period. MoneyGram' money orders prominently display the credit union "hands and globe" logo and each is payable in any amount up to $1,000.
Your money order supply is kept current with automatic inventory replenishment. If any component stops working, MoneyGram replaces it for FREE! The only charge to your credit union is a small per-item fee.
Additional Benefits of Official Checks Program
- Fee Income – MoneyGram provides hard dollar fee income to your credit union . You earn fees on your outstanding checks until they clear. This has a significant impact on ROA.
- Online capabilities – Quickly view check status, place stop payments, view images of paid items and more. Take advantage of the industries best “Positve Pay reconciliation system, significantly reducing the potential for check fraud.“
Make life easier for your members and yourself. Let MoneyGram take care of your money order needs.
Click here to link to the MoneyGram Web site.
For additional information, please contact a Credit Union Resources representative at 1-800-442-5762 and their extension.
Tom Hodge, Ext. 6424
hodge@curesources.coop
Linda Winkfein, Ext. 6451
lwinkfein@curesources.coop
Bonnie Cox, Ext. 6421
bcox@curesources.coop
In Arkansas
Vicky Salkeld, Ext. 6828
vsalkeld@tcul.coop
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